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
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Trading Journal Tue Sep 15, 2020 10:37 pmThe Invisible
AEL Access EngineeringTue Sep 15, 2020 7:24 pmsmallville
CFVF - First CapitalWed Sep 09, 2020 9:42 pmWonderer
DIPD.N0000 (Dipped Products PLC)Mon Sep 07, 2020 8:47 amBeta
Plantation Sector UpdatesMon Aug 24, 2020 10:00 amserene
අනං මනං! #/+?.<>Tue Aug 18, 2020 11:15 pmYin-Yang
Dividend AnnouncementsMon Aug 17, 2020 1:27 pmRana
Ceylon Tobacco CTCSun Aug 16, 2020 5:11 pmThe Invisible
Sunshine HoldingsFri Aug 14, 2020 9:39 pmThe Invisible
HAYC - HaycarbFri Aug 14, 2020 10:15 amBeta
Tokyo CementThu Aug 13, 2020 11:45 pmThe Invisible
LOLC HoldingsWed Aug 12, 2020 3:52 pmThe Invisible
SLTL.NWed Aug 12, 2020 11:06 amThe Invisible
Gota's EraTue Aug 04, 2020 8:49 amyellow knife
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
The Invisible
The Invisible
Posts : 2656
Join date : 2016-11-28
Age : 41

Sri Lanka Central Bank Governor asks markets to remain calm Empty Sri Lanka Central Bank Governor asks markets to remain calm

on Tue Mar 17, 2020 2:59 pm

Sri Lanka Central Bank Governor asks markets to remain calm

Tuesday March 17, 2020 13:16:07

ECONOMYNEXT- Sri Lanka’s Central Bank Governor W. D. Lakshman called on financial institutions to not speculate and cause panic in the markets while passing on the benefits of lower lending rates to customers after an emergency policy rate and statutory reserve ratio (SRR) cut over the coronavirus pandemic.

“We have requested all financial institutions led by licensed commercial banks to pass to the market the full benefit of the cumulative reduction of 75 basis points in policy interest rates thus far during the year as well as the reduced cost of funds through the reduction in SRR without any delay,” he said.

“We have also requested financial institutions to refrain from engaging in speculative activity which could lead to panic in the financial market.”


The government declared Monday through Thursday as holidays, although banks, food distribution and essential services such as health continue to operate.

Lakshman said the Sri Lankan economy has begun a turnaround due to fiscal and monetary stimulus following the presidential election, after a long period of subdued growth.

“However, it is increasingly evident that domestic economic activity during the year 2020 would continue to be affected by the spread of the pandemic,” he said.

On Monday, the central bank in an emergency move cut the policy rates by 25 basis points.

Further, the SRR was cut by 1 basis point, which could add another 50 billion rupees in liquidity to money markets unless a 40 billion rupee liquidity injection on Friday is not mopped up.

The central bank and Treasury are coordinating efforts to ensure the economic impact from the pandemic is mitigated, and are observing the local and global developments closely.


Back to top
Permissions in this forum:
You cannot reply to topics in this forum