The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Coronavirus UpdatesYesterday at 9:48 pmRajapaksap
Films - To Watch ListFri Jul 10, 2020 8:33 amyellow knife
Dividend AnnouncementsThu Jul 09, 2020 7:43 pmRana
Rajgama Heroes !Sun Jul 05, 2020 10:05 pmserene
AEL Technical AnalysisFri Jul 03, 2020 7:14 amThe Invisible
LIOC.N0000 (Lanka IOC PLC)Tue Jun 30, 2020 8:00 amLSE
CFVF - First CapitalSat Jun 27, 2020 10:22 pmHUNTER
RCL - Royal CeramicsSat Jun 27, 2020 4:02 amdesh87
JKH.N0000Wed Jun 24, 2020 9:33 pmThe Invisible
LOLC HoldingsMon Jun 22, 2020 3:40 pmRajapaksap
SAMP.N0000 (Sampath Bank PLC)Fri Jun 19, 2020 1:08 pmdakzsl
HAYC - HaycarbFri Jun 19, 2020 12:04 pmRational Investor
HAYL.N0000 Hayleys PLCThu Jun 18, 2020 7:53 pmNIRMALSG
Gota's EraTue Jun 16, 2020 2:40 pmpuliyanam
Hayleys MGTTue Jun 09, 2020 11:16 amThe Invisible
AEL Access EngineeringTue Jun 09, 2020 11:08 amThe Invisible
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
Backstage
Backstage
Top contributor
Top contributor
Posts : 3762
Join date : 2014-02-24

Confidence to boom after election – CBSL Governor Empty Confidence to boom after election – CBSL Governor

on Fri Oct 11, 2019 4:09 pm

Confidence to boom after election – CBSL Governor

October, 11, 2019

Central Bank Governor Dr. Indrajit Coomaraswamy is optimistic that the consumer confidence and sentiment level will gradually pick up after the election.

Speaking further governor defended the monetary authority’s decision to impose caps on interest lending rates, insisting that it was an effort aimed at giving a strong boost to the economy to grow once the election cycle was over.

“Since the time that the deposit rate caps were introduced at the end of April. We have seen the average rated new deposit rates come down by 284 basis points. In that same period the average rated lending rate has come down by 87 basis points. Now of course banks can’t immediately pass on the new deposit rates because the stock of deposits that were in existence at the end of April take time to mature. Which why in the direction issued by the Central Bank to banks to bring down lending rate caps gives some time to bring these rates down gradually,” he said whilst addressing the media at the Central Bank today (11).

“So what we are saying is basically to pass on the reduction in the deposit rates that were generated by the imposition of the deposit cap to pass the loan to the bank customers and in an ideal world after the elections when confidence and sentiment will pick up, we will have a lending rate structure which can boost growth,” Governor added.

http://bizenglish.adaderana.lk/confidence-to-boom-after-election-cbsl-governor/
Back to top
Permissions in this forum:
You cannot reply to topics in this forum