• Inflation in January 2018

    Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), decreased to 5.4 per cent in January 2018 from 7.3 per cent in December 2017, on year-on-year basis. This decline is due to the high base prevailed in January 2017 as well as the monthly decline in Food prices in January 2018.

    The change in the NCPI measured on an annual average basis decreased from 7.7 per cent in December 2017 to 7.6 per cent in January 2018.

  • Sri Lanka Listing in the Financial Action Task Force and Measures Initiated by Sri Lanka to Improve Global AML/CFT Standards

    The Financial Action Task Force (FATF), the global policy setter has introduced 40 recommendations on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in order to combat money laundering/ terrorist financing and other related offences globally.  The Asia Pacific Group on Money Laundering (APG) functions as the FATF’s regional affiliated body and monitors the level of compliance with the FATF recommendations in the region. Sri Lanka is a founding member of APG.  

  • SL Purchasing Managers’ Index Survey - January 2018

    The Manufacturing Sector PMI recorded 51.7 index points in January from 59.1 index points in December 2017. This indicates that the Manufacturing activities expanded at a slower rate in January compared to December 2017 after the seasonal peak observed during last two months of the year 2017. This was mainly driven by the slowdown in the Production and New Orders sub-indices. Further, the Employment sub-index also slowed down during the month as compared to December 2017 while Stock of Purchases subindex contracted during the month. Meanwhile, the Suppliers’ Delivery Time sub-index lengthened at a slower rate compared to previous month. Overall, all the sub-indices of PMI except from stock of purchases sub-index recorded values above the neutral 50.0 threshold signalling an overall expansion in January 2018.

  • Regulatory Action on a Primary Dealer – Pan Asia Banking Corporation PLC

    The Monetary Board of the Central Bank of Sri Lanka on 14th February 2018, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension from carrying on the business and activities of a Primary Dealer by Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th February 2018, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

    The Central Bank wishes to emphasize that this regulatory action restricts PABC’s access to the primary auctions for government securities. It does not affect any of the other activities/ services of PABC. 

     

  • Monetary Policy Review - No. 1 of 2018

    Considering the recent developments in the domestic and international macroeconomic environment, the Monetary Board, at its meeting held on 14 February 2018, was of the view that the current monetary policy stance is appropriate and decided to maintain the policy interest rates of the Central Bank of Sri Lanka at their present levels.

    The decision of the Monetary Board is consistent with the objective of maintaining inflation at mid-single digit levels over the medium term and thereby facilitating a sustainable growth trajectory. The rationale underpinning the monetary policy stance is set out below.

  • Provincial Gross Domestic Product – 2015

    Provincial Gross Domestic Product (PGDP) for 2015 has been computed by the Statistics Department of the Central Bank of Sri Lanka (CBSL), based on the disaggregation of the rebased series of National Accounts estimates (2010 constant prices) by the Department of Census and Statistics (DCS)1. In the estimation of PGDP, the value of each line item in GDP (base year 2010) is apportioned using relevant indicators at provincial level.

    The Sri Lankan economy reached an annual real GDP growth of 4.8 per cent in 2015, while the nominal GDP recorded a growth of 7.0 per cent to Rs. 11,183 billion. The disaggregation of nominal GDP across provinces is given in Table 1.

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  • External Sector Performance - May 2016

    Sri Lanka’s external sector showed a mixed performance during May 2016 with a widening of the trade deficit, continued growth in tourist earnings and an increase in workers’ remittances. The trade deficit widened on account of the decline in export earnings, mainly due to the subdued performance in exports of tea, rubber products and textiles and garments, amidst the marginal growth in import expenditure on a year-on-year basis. However, the widening of the trade deficit on a cumulative basis as of end May 2016 was offset to some extent by continuous inflows on account of tourism, increased workers’ remittances and moderate inflows to the financial account during the period.

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  • Economic and Social Statistics of Sri Lanka - 2016

    The 'Economic and Social Statistics of Sri Lanka – 2016' an annual publication of the Central Bank of Sri Lanka, is now available for public access. The publication contains economic and social indicators of Sri Lanka in the areas of Gross Domestic Product (GDP), agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, labour force, transportation, education, health, telecommunication services, population, climate and selected information on economic and social indicators of other countries. In addition, information on living conditions, poverty and household characteristics in Sri Lanka from Household Income and Expenditure Survey (HIES) conducted by the Department of Census and Statistics also available in the publication.

  • Clarification over Recent Media Reports on Recording of Government Debt

    Attention of the Central Bank of Sri Lanka (CBSL) has been drawn over the media reports on Government debt recording and maintenance of accounts published on 8th February 2018. 

  • SL Purchasing Managers’ Index Survey - July 2016

    The Manufacturing PMI decreased to 50.6 in July indicating a neutral performance in comparison to 55.1 in June 2016. The decline in July in comparison to June was mainly due to the decrease in New Orders and Production Indices. The month-on-month decline of the PMI and the sub-indices follows the significant increase observed in the month of June compared to May 2016. All sub-indices of PMI, apart from Employment and Stock of Purchases Indices, declined compared to the previous month. Overall data points to an expansion on the strength of Production and Stock of Purchases Indices while all the other sub-indices remained below the neutral 50.0 threshold. The expectations for activities indicated an improvement for the next three months.

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