Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
- sashimaalTop contributor
- Posts : 5785
Join date : 2014-02-28
Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
Because "inflation expectations are well anchored" there was room for interest rates to fall further, but the Central Bank was closely watching data, Bloomberg Newswires, reported.
With good rain, supply side factors were positive, and if oil prices come down further it can help ease rates, he said in an interview with Bloomberg.
The rupee was perhaps "slightly undervalued" because of a steep depreciation in 2012. The International Monetary Fund has also said in March that the rupee was fairly valued.
A fall in foreign reserves was temporary and the IMF has said in February that there was no problem in the balance of payments, Mahendran said.
- sereneTop contributor
- Posts : 4850
Join date : 2014-02-26
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
- poor boyActive Member
- Posts : 766
Join date : 2014-10-09
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
- guruji
- Posts : 602
Join date : 2015-04-27
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
- stockback
- Posts : 202
Join date : 2014-04-03
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
about 27 February auction
I think government purposely increase rates to manipulated the market (6.20 - 7.30 1 Year Bill) using thirty years bond
after that government can collect more money when rates falling.
I think they did this trick. credit demand is high but rates falling or same level.
2011 Mahinda Government did other way. that's why end with 11-12% 1 Year Bill
Ranil government this trick. all other fools think that is cheat.
Mahndre's sunning-law "dambuluth gihin thalagoith maruwa"
Mahndre's sunning-law is not in this main role then no one complain like this way.
I need advised from RPPA about this matter. this is my view i need to check with you "am i correct?"
- LeonTop contributor
- Posts : 1264
Join date : 2014-03-11
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
- Future123Active Member
- Posts : 1435
Join date : 2014-04-09
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
poor boy wrote:this man himself was also about to fall but ranil saved him by dissolving the parliament before the release of cope report
Truly speaking MS saved Arjun Mahendran, Ravi K, Ranil and UNP by dissolving the parliament just before the release of COPE report. Ravi K instructed BOC to grant Perpetual treasuries Billions of rupees without any security. A big cut went for Ravi K and connected parties.
I can't understand why MS did not interfere in this large scale fraud.
- First Guy
- Posts : 2599
Join date : 2014-02-22
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
Future123 wrote:poor boy wrote:this man himself was also about to fall but ranil saved him by dissolving the parliament before the release of cope report
Truly speaking MS saved Arjun Mahendran, Ravi K, Ranil and UNP by dissolving the parliament just before the release of COPE report. Ravi K instructed BOC to grant Perpetual treasuries Billions of rupees at an interest rate of just 8.5% without any security. Just look at the profit. (12.5% - 8.5%) 4% without any investments for billion of rupees. A big cut went for Ravi K and connected parties.
I can't understand why MS did not interfere in this large scale fraud.
Can you post the source? Maybe I missed the original news item.
- Future123Active Member
- Posts : 1435
Join date : 2014-04-09
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
Sorry. Couldn't find the BOC lending rates and I'll take it out from the post but read in some paper.
https://www.colombotelegraph.com/index.php/reason-for-dissolution-arjuna-mahendran-found-guilty-in-cope-inquiry/
“It appears that the Governor of the Central Bank, Arjuna Mahendran would have temporary breathing as a result of the dissolution of Parliament. All news pertaining to COPE inquiry says that it has found him guilty over the Treasury Bonds Scam.” a source close to Prime Minister Ranil Wickremesinghe told Colombo Telegraph.
Ranil“However, all those who I meet, big or small, say that they are all unhappy about how Prime Minster Ranil Wickremesinghe has manipulated the whole incident. What a pathetic story about the good governance for which we all fought risking our lives!” she further said.
Colombo Telegraph also learnt that the COPE report has implicated Ministers Kabir Hashim, Ravi Karunanayake, Prime Minister Ranil Wickremesinghe and his friend Malik Samarawickrama.
- First Guy
- Posts : 2599
Join date : 2014-02-22
Re: Sri Lanka CB Governor says rates have room to fall, rupee undervalued: report
Future123 wrote:Can you post the source? Maybe I missed the original news item.
Sorry. Couldn't find the BOC lending rates and I'll take it out from the post but read in some paper.
https://www.colombotelegraph.com/index.php/reason-for-dissolution-arjuna-mahendran-found-guilty-in-cope-inquiry/
“It appears that the Governor of the Central Bank, Arjuna Mahendran would have temporary breathing as a result of the dissolution of Parliament. All news pertaining to COPE inquiry says that it has found him guilty over the Treasury Bonds Scam.” a source close to Prime Minister Ranil Wickremesinghe told Colombo Telegraph.
Ranil“However, all those who I meet, big or small, say that they are all unhappy about how Prime Minster Ranil Wickremesinghe has manipulated the whole incident. What a pathetic story about the good governance for which we all fought risking our lives!” she further said.
Colombo Telegraph also learnt that the COPE report has implicated Ministers Kabir Hashim, Ravi Karunanayake, Prime Minister Ranil Wickremesinghe and his friend Malik Samarawickrama.
I'm looking for the news where Ravi instructed BOC to lend at 8.5%. What was the amount? Btw the yield was 11.73% and not 12.5%. Please do post it if you find it. Anyhow let's stick to the topic. Bond issue was discussed to death
- Sri Lanka rupee slightly undervalued, REER index below 100: CB Governor
- Sri Lanka rupee slightly undervalued, REER index below 100: CB Governor
- No urgent need to adjust Sri Lanka interest rates: CB Governor
- Sri Lanka wants to maintain rates at current levels: CB Governor
- Sri Lanka interest rates should go down, currency will not fall: Mark Mobius