The Monetary Board of the Central Bank will announce its monetary policy for this month on Thursday August 18 at 7.30 am local time (just before the money and exchange markets open for the day).
The monthly review is a trendsetter in terms of interest rates and market players will be closely awaiting the policy decision as to whether benchmark interest rates would be increased or decreased. Central Bank officials in recent times have said that interest rates (now running at 20 to 28 per cent for Treasury bills and commercial bank rates) are too high.
Interest rates were jacked up in April aimed at reducing runaway inflation which hasn’t helped so far as inflation has surged in recent months.
Thursday’s announcement follows the customary Monetary Board meeting on Wednesday where decisions would be taken on the policy guidelines for the month.
A British national had been arrested over attempting to smuggle in the largest haul of kush( drugs) from Thailand, customs said.
Popular grade five tuition teacher, Hayeshika Fernando wanted over assaulting a 21 year old youth was granted bail today after she surrendered to courts.
The Government of Sri Lanka maintains that the allegation of genocide during the final phase of the conflict in Sri Lanka is unsubstantiated by any credible authority, either nationally or internationally, and is based on misleading information. Sri Lanka firmly rejects this false narrative and believes it has been propagated primarily for electoral gains within Canada.
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