CBSL suspends money-printing. Bank interest rates to be surged

Date:

The Central Bank of Sri Lanka (CBSL) has decided to suspend the money printing operations and raise money from the market.

Following the coming of the present government Rs. 1.3 trillion were printed, which, according to critics, had contributed to the rising inflation in the country.

Meanwhile, the bank interest rates are likely to surge within this month, according to sources.

The relief package recently announced by the government requires Rs. 230 billion, part of which is to be sourced from the local money market.

MIAP

Share post:

spot_imgspot_img

Popular

More like this
Related

Giorgio Armani, Icon of Italian Fashion and Global Elegance, Dies at 91

By - Puli September 04, Colombo (LNW): The world of fashion...

Take the Next Bigger Crunch with SCAN Cassava Chips Range from C.W. Mackie PLC

Rashika Hennayake September 04, Colombo (LNW):  C.W. Mackie, a...

CEB’s Tariff Puzzle: Profit Recovery Sparks Questions on Next Revision

CEB’s Tariff Puzzle: Profit Recovery Sparks Questions on Next Revision

Gem Industry Tarnished by Corruption, Smuggling, and Foreign Interference

Gem Industry Tarnished by Corruption, Smuggling, and Foreign Interference