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Sri Lanka Equity Forum » Stock Market News » Sri Lanka Post-War Growth Stays Above 8%

Sri Lanka Post-War Growth Stays Above 8%

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1 Sri Lanka Post-War Growth Stays Above 8% on Wed Dec 21, 2011 2:31 pm

thilankad

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Sri Lanka’s growth accelerated, exceeding 8 percent for a second straight quarter and reducing the scope for the central bank to cut interest rates.

Gross domestic product rose 8.4 percent in the three months ended Sept. 30 from a year earlier, the statistics department said on its website today. That compares with an 8.2 percent expansion in the previous quarter and the 8.1 percent median of five estimates in a Bloomberg News survey.

The central bank left borrowing costs unchanged on Dec. 16 for an eleventh month even as Europe’s debt crisis curbs Asian exports and prompts countries from Thailand to Indonesia to ease policy. Governor Ajith Nivard Cabraal said Nov. 29 that Sri Lanka will probably refrain from rate cuts for the rest of 2011 even as it has room to move, as last month’s 3 percent currency devaluation revives price pressures.

“The central bank should hold rates steady,” said Bimanee Meepagala, a Colombo-based analyst at NDB Aviva Wealth Management Ltd., the nation’s biggest non-state fund. “With credit growth and the rupee depreciation, they’ll need to keep a close eye on inflation.”



http://www.bloomberg.com/news/2011-12-21/sri-lanka-growth-holds-above-8-.html

http://thilankadinush.blogspot.com/

2 Re: Sri Lanka Post-War Growth Stays Above 8% on Wed Dec 21, 2011 2:42 pm

Kumar

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks mate for sharing a valuable news.

But hope you can understand English no?
Please read below, do not take personal.

smallville wrote:
thilankad, pls follow the forum guidelines..

Publish all News articles in "News" section going forward..

3 Re: Sri Lanka Post-War Growth Stays Above 8% on Wed Dec 21, 2011 4:55 pm

thilankad

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@Kumar wrote:Thanks mate for sharing a valuable news.

But hope you can understand English no?
Please read below, do not take personal.

smallville wrote:
thilankad, pls follow the forum guidelines..

Publish all News articles in "News" section going forward..


Very Happy

http://thilankadinush.blogspot.com/

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