Sri Lanka’s rupee is expected to remain stable on a ‘very comfortable terrain’ in the coming years, with gross foreign exchange reserves forecast to exceed US $12 billion before capital repayments to creditors begin in 2029, according to the Sri Lanka Banks’ Association (SLBA) Chief and Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri. Despite potential
The International Monetary Fund (IMF) has raised concerns about the elevated uncertainty surrounding the global economic outlook, citing the potential impact of elections and policy changes. In its latest World Economic Outlook (WEO) report, titled “Policy Pivot, Rising Threats,” the IMF noted that nearly half of the world’s population is either going to the polls
Crude oil prices have seen an uptick at the start of this week, following a previous week of losses, as escalating violence in the Middle East stokes concerns over supply. Additionally, signals from the US Federal Reserve hinting at possible interest rate cuts next month have influenced market movements. Brent crude was trading above $79
Oil prices fell on Monday as worries about a potential US recession, the world’s largest oil consumer, outweighed concerns over escalating tensions in the Middle East that could disrupt supply from the major producing region. Brent crude futures decreased by 4 cents, or 0.1%, settling at $76.77 per barrel. Meanwhile, US West Texas Intermediate (WTI)
The US markets extended their losses on Monday, continuing the downturn that began last week, while Asian markets also saw significant declines, particularly in Japan, a country with very low interest rates. The Dow Jones Industrial Average dropped by 1,033 points, or about 2.6 percent, the S&P 500 fell by 3 percent, and the Nasdaq
Sri Lanka’s consumer prices in the capital Colombo increased by 2.4% in the 12 months to July 2024. However, the central bank’s deflationary policy, which began impacting the balance of payments in September 2022, has only resulted in a 2.8% rise over the past 22 months. In July, the Colombo Consumer Price Index (CPI) fell