• 54th SEACEN Governors’ Conference / High-Level Seminar and the 38th Meeting of the SEACEN Board of Governors

    The Central Bank of Sri Lanka hosted the 54th SEACEN Governors’ Conference / High-Level Seminar and the 38th Meeting of the SEACEN Board of Governors in Colombo from 29 November to 02 December 2018. These events were attended by Governors and delegates of SEACEN member Central Banks and Monetary Authorities. The Deputy Managing Director of the International Monetary Fund (IMF), Mr. Mitsuhiro Furusawa, attended the Conference as the Keynote Speaker.

    The SEACEN Centre plays a leading role in promoting greater understanding in financial, monetary and banking matters in the Asia-Pacific region. Established in 1982, The SEACEN Centre serves central banks and monetary authorities in Asia-Pacific through learning programmes, research work, and networking.

  • CBSL Disputes the Rating Agencies’ Latest Rating Decisions

    The Central Bank of Sri Lanka (CBSL) is of the view that the decisions by Fitch Ratings on 3 December 2018 and Standard and Poor’s (S&P Global Ratings) on 4 December 2018 to downgrade Sri Lanka's Long-Term Rating from ‘B+’ (Stable) to ‘B’ (Stable) are based on uncorroborated facts on the country’s macroeconomic fundamentals.

  • Inflation in February 2016

    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, increased to 1.7 per cent in February 2016 from -0.7 per cent in January 2016, on year-on-year basis. The main contributor towards the increase in year-on-year inflation was the Non-food category, with substantial increases observed in Alcoholic Beverages and Tobacco; Clothing and Footwear; Furnishing, Household Equipment and Routine Household Maintenance; Heath; Transport and Miscellaneous Goods and Services sub categories, which surpassed the overall price decline observed in the food category in the NCPI.

    The change in the NCPI measured on an annual average basis decreased to 2.6 per cent in February 2016 from 2.9 per cent recorded in January 2016.

  • External Sector Performance - September 2018

    Sri Lanka’s external sector came under pressure in September 2018. The widening deficit in the trade account and the strengthening of the US dollar, which resulted in outflows of portfolio investments, adversely impacted the balance of payments during the month. Despite earnings from exports which surpassed US dollars 1 billion for the fourth consecutive month, higher growth in import expenditure outpaced the increase in export earnings. In the financial account, foreign investments in the government securities market recorded outflows responding to the firming up of global financial markets. Meanwhile, the Colombo Stock Exchange (CSE) also witnessed some outflows of foreign investments during September.

  • A Commemorative Coin to Mark the 75th Anniversary of Sri Lanka Signal Corps

    The Central Bank of Sri Lanka (CBSL) issued a circulation standard commemorative coin with the face value of Rs. 10 to mark the 75th Anniversary of Sri Lanka Signal Corps and to give due recognition for its service to the country over a period of 75 years. The first coin was officially presented to the Hon. Prime Minister and Minister of Finance & Economic Affairs, Mahinda Rajapaksa by Dr. Indrajit Coomaraswamy, Governor of CBSL on 27 November 2018.

    The coin will be issued into circulation through licensed commercial banks and can be used for payments along with existing other currency notes and coins in circulation.

  • Issuance of a New Circulation Standard Coin Series

    The Central Bank of Sri Lanka (CBSL) issued a new series of circulation coins with face value of Rs.10, Rs.5, Rs.2 and Re.1 with objectives of reducing the cost of coins minting, increasing the durability of coins, giving more portability and identifying easily by visually impaired people. The first coins pack was officially presented to the Hon. Prime Minister and Minister of Finance and Economic Affairs, Mahinda Rajapakse by Dr. Indrajit Coomaraswamy, Governor of CBSL on 27 November 2018.

    The coins will be issued into circulation from 03 December 2018 through licensed commercial banks. These new coins are circulated along with the existing coins of the same denominations issued earlier.

  • Monetary Policy Review - March 2016

    According to provisional estimates of the Department of Census and Statistics (DCS), the Sri Lankan economy grew by 4.8 per cent, in real terms, in 2015 compared to 4.9 per cent in the previous year. The expansion of the economy in 2015 was mainly supported by services related activities, which grew by 5.3 per cent during 2015. Agriculture and industry related activities also contributed positively to the growth during the year, expanding by 5.5 per cent and 3.0 per cent, respectively. The growth in 2015 was largely driven by an increase in consumption demand, while investment activities witnessed a deceleration.

  • Withdrawal of Primary Dealership by The Hongkong and Shanghai Banking Corporation Ltd

    The general public is hereby informed that with effect from 01 April, 2016 The Hongkong and Shanghai Banking Corporation Ltd (HSBC) at 24, Sir Baron Jayathilaka Mawatha, Colombo 01, ceases to operate as a Primary Dealer. HSBC will, however, continue to function as a Dealer Direct Participant in scripless securities and transact in scripless securities on behalf of customers and maintain customer accounts in LankaSecure.

     

  • Inflation in October 2018

    Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100) continued to decline for the third consecutive month, recording 0.1 per cent in October 2018, the lowest since January 2016. The deceleration observed in year-on-year inflation in October 2018 is mainly driven by the higher base prevailed during the corresponding month of the previous year due to higher food prices. Year-on-year Food inflation dropped for the third consecutive month and recorded -6.6 per cent in October 2018. However, year-on-year Non-food inflation continued to increase and reached 5.8 per cent during the month.

    The change in the NCPI measured on an annual average basis decreased to 3.3 per cent in October 2018 from 4.0 per cent in September 2018.

  • Moody’s Latest Rating Decision is Unfounded

    The Central Bank of Sri Lanka (CBSL) is of the view that the decision by Moody’s Investors Service (Moody's) on 20 November 2018 to downgrade the Government of Sri Lanka's foreign currency issuer and senior unsecured ratings from B1 (Negative) to B2 (Stable) does not properly reflect the country’s macroeconomic fundamentals, and therefore unwarranted.

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