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External Sector Performance - August 2019

The trade deficit contracted in August 2019 as the decline in imports continued while the dip in exports in the previous month has largely recovered. Import expenditure recorded a decline of 16.6 per cent (year-on-year) and export earnings declined fractionally by 0.4 per cent (year-on-year) in August 2019, mainly due to the lower prices of major export categories.

The trade deficit fell to US dollars 540 million in August 2019 compared to the deficit of US dollars 717 million recorded in July 2019.

Monetary Policy Review - No. 6 of 2019

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 10 October 2019, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.00 per cent and 8.00 per cent, respectively. The Board arrived at this decision following a careful analysis of current and expected developments in the domestic economy and the financial market as well as the global economy. The decision of the Monetary Board is consistent with the aim of maintaining inflation in the desired 4-6 per cent range while supporting economic growth to reach its potential over the medium term.

10th Asia Cash Cycle Seminar - 2019, Colombo Sri Lanka

The Central Bank of Sri Lanka co-hosted the 10th Asia Cash Cycle Seminar – 2019 with Currency Research held during 23rd – 26th September 2019 at the Shangri-La Hotel, Colombo. The Cash Cycle Seminar formally known as International Commercial Cash Operations Seminar (ICCOS) is a premier global event for stakeholders of commercial cash management, distribution and circulation. Sri Lanka was the first South Asian nation to conduct this seminar in its 24-year old history.

SEACEN-BIS High-Level Seminar and the 18th Meeting of the SEACEN Executive Committee

The Central Bank of Sri Lanka hosted the South East Asian Central Banks (SEACEN) - Bank for International Settlements (BIS) High-Level Seminar and the 18th Meeting of the SEACEN Executive Committee, in Colombo, from 26 to 28 September 2019. These events were attended by the Governor of the Central Bank of Sri Lanka, Deputy Governors and delegates of SEACEN member central banks and monetary authorities and distinguished speakers.