News Sri Lanka Banks: Sri Lanka's central bank says more rate cuts are needed for economy to 'bounce back'
Governor Nandalal Weerasinghe the Central Bank of Sri Lanka told CNBC that more rate cuts will be needed to boost the economy to growth. The central bank lowered its policy interest rate for a second ...
News Sri Lanka Banks: Exclusive - Sri Lanka central bank sees no need for further rate hikes this year, governor says
By Uditha Jayasinghe COLOMBO, Aug 11 - Sri Lanka's central bank sees no need for more interest rate increases this year after its big, unexpected hike in May, with inflation expected to peak around current levels before easing back towards the 5% target next year, Governor P. Nandalal Weerasinghe told Reuters on Tuesday. Sri Lanka's central bank surprised the markets with a 100 basis-point hike
News Sri Lanka Banks: Sri Lanka's banks come back from the brink as bad loans fall and credit surges 24%
By Ben Aris in Berlin Sri Lanka's banks are lending again, pushing out credit at the fastest pace in years as bad loans melt away and record profits pile up. It is a striking turn for a system that, barely two years ago, was staring into the abyss. When the island defaulted on its foreign debt in 2022 and the economy shrank 7.3%, its lenders were l...
News Sri Lanka Banks: Sri Lanka’s central bank denies risk of default
Sri Lanka is facing its worst financial crisis in decades, and foreign exchange reserves have fallen to $2.36bn.
