• New Primary Issuance System for Treasury Bonds

    The Central Bank of Sri Lanka will introduce a new primary issuance system for Treasury bonds (T-bonds). Effective from July 27, 2017, the new system replaces the existing fully auction based issuance system for T-bonds, that has been in practice since February 2015. The main purpose of introducing the new system is to further enhance the efficiency and transparency of the domestic borrowings of the Government.

    The new system is more structured and includes regular monthly T-bond auctions. Each monthly auction offers two T-bond series of different maturities and tenures of the series are expected to match the resource availability in the market.

  • Statement Issued by the Central Bank of Sri Lanka on the Leakage of Customer Information by Hatton National Bank PLC

    The Central Bank of Sri Lanka (CBSL) wishes to inform the general public that a preliminary investigation was conducted by CBSL and as per the information available at present, it appears that this incident had occurred inadvertently relating to certain banking information of 4,630 customers. It is also observed that this incident is attributable to internal lapses in managing and using customer information within HNB. Therefore, this subject is under further investigation by both HNB and CBSL.

    Accordingly, interim supervisory measures have already been initiated to take action against those who are responsible for the incident in terms of legal provisions as well as relevant supervisory standards.

  • Inflation in June 2017

    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), decelerated to 6.3 per cent in June 2017 from 7.1 per cent in May 2017, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in June 2017.

    The change in the NCPI measured on an annual average basis remained at 6.1 per cent in June 2017, at same level of the previous month.

  • The International Monetary Fund to Release the Third Tranche of US Dollars 167.2 million under the Extended Fund Facility

    The second review of the three-year Extended Fund Facility (EFF) obtained by Sri Lanka in June 2016 has been successfully completed by the International Monetary Fund (IMF) and the third tranche to the value of SDR 119.894 million (approximately US dollars 167.2 million) will be disbursed on 19 July 2017.

  • 46th Meeting of the Board of Directors of the Asian Clearing Union Colombo, Sri Lanka, July 12-13, 2017

    The Central Bank of Sri Lanka hosted the Standing Technical Meeting on July 12, 2017 and the 46th Meeting of the Board of Directors of the Asian Clearing Union (ACU) on July 13, 2017, respectively.

    The ACU presently has a membership of nine Central Banks/ Monetary Authorities. Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka are the current members of ACU. The Board of Directors of the ACU consists of the Governors of Central Banks/Heads of Monetary Authorities in these countries. The ACU functions under a Secretary General, responsible to the Board of Directors and has its Secretariat located in Teheran, Iran.

  • SL Purchasing Managers’ Index Survey - June 2017

    The Manufacturing Sector PMI recorded 56.1 in June which is a decrease of 1.8 index points compared to May 2017. This indicates that the manufacturing activities expanded, albeit at a slower rate in June 2017, mainly due to the decrease in New Orders and Production sub-indices which were partly influenced by the adverse weather conditions. As a result, excessive stock levels were created and a marginal decline in lengthening of the suppliers’ delivery time was experienced. However, the Employment level improved recovering from the contraction experienced in the previous month. Further, all the sub-indices of PMI recorded values above the neutral 50.0 threshold signalling an overall expansion. Moreover, the expectation for activities indicates an improvement for the next three months.

  • Monetary Policy Review - No. 4 of 2017

    With due consideration to the prevailing and evolving domestic and international macroeconomic environment, the Monetary Board, at its meeting held on 22 June 2017, 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. 

  • SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium held in Colombo on 12 July 2017

    The Central Bank of Sri Lanka hosted the 34th SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium in Colombo on 12 July 2017. The 34th SAARCFINANCE Group Meeting was attended by Governors and Finance Secretaries and other delegates from the Central Banks and Ministries of Finance in the SAARC region.

  • 20th Annual Meeting of the Asia/Pacific Group on Money Laundering in Colombo, Sri Lanka during July 17-21, 2017

    The 20th Annual Meeting of the Asia/Pacific Group on Money Laundering will be held in Colombo during July 17-21, 2017 with the participation of about 450 local and foreign delegates from 41 member countries and several international observer organisations. This event will be graced by His Excellency the President Maithripala Sirisena as the Chief Guest.

  • A Commemorative Coin to Celebrate 150 Anniversary of Ceylon Tea

    The Central Bank of Sri Lanka (CBSL) issued a commemorative coin with a face value of Rs. 10 to celebrate 150 years of Ceylon Tea and to recognize its contribution to the national economy as an important and long-standing export oriented commodity in Sri Lanka.

    The first set of coins were officially presented to the Hon. Minister of Finance, Mr. Mangala Samaraweera and Hon. Minister of Plantation Industries, Mr. Navin Dissanayake by Dr. Indrajit Coomaraswamy, Governor of CBSL, at the ceremony held at CBSL on 12.07.2017.

    The coin will be issued into circulation from 13.07.2017 through licensed commercial banks and can be used for payments amongst other currency notes and coins in circulation.

    FULL TEXT

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