Hirunews Logo
Central+Bank+predicts+private+sector+credit+growth
Thursday, 22 March 2012 - 11:54
Central Bank predicts private sector credit growth
8

Shares
1,033

Views

The Central Bank has said that private sector credit growth and import demand in Sri Lanka is slowing down in response to recent policy tightening, with downward pressure on the rupee expected to ease.

Foreign currency inflows to the country increased "substantially" in recent weeks and more was expected, as projected in the Central Bank 'Road Map' unveiled earlier.

The Central Bank said that in response to the recent policy measures restricting bank lending, "there are clear signs of deceleration in private sector credit growth and import demand."

A further moderation is expected once seasonal demand for imports ahead of the traditional New Year festival in April is over, "thereby substantially easing the deficit in the trade account," it said.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE