Lanka cuts interest rates to boost growth, waiting for IMF review
Friday, 24 November 2023 Sri Lanka's central bank lowered interest rates on Friday in an unexpected move to boost growth, while projecting inflation would remain subdued over the medium term. The Central Bank of Sri Lanka (CBSL) lowered key rates by 100 basis points (bps), reducing the standing deposit facility rate and the standing lending facility rate to 9% and 10%, respectively, and taking total rate cuts to 650 bps since the current easing cycle began in June. CBSL had raised rates by a record 10.50 percentage points to bring down sky-high inflation between April 2022 and March this year.
Labor Market Remains Strong as, Unemployment Claims , Continue to Fall.
ABC reports that the number of applications for
unemployment in the United States fell sharply
last week, signaling a resilient job market. .
On November 22, the Labor Department
reported that jobless claims had
fallen by...
The bank pushed its policy rate up by 5 percentage points, to 40%, marking its sixth big interest rate hike in a row focused on beating down inflation that hit an eye-watering 61.36% last month.
Credit: euronews (in English) Duration: 00:35Published
Mortgage Rates Creep Lower, While Home Prices Remain High.
NBC reports that mortgage rates have
finally started to come back down following
a dramatic rise in the housing market.
On November 16,..
Credit: Wibbitz Top Stories Duration: 01:30Published
US Job Growth , Cooled in October.
In its payroll report released on Nov. 3,
the Labor Department said 150,000 jobs
were added by employers in October.
The number fell short of..
Credit: Wibbitz Top Stories Duration: 01:30Published
Friday, 24 November 2023
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