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Rupee Steady Ahead of Interest-Rate Decision: Inside Sri Lanka

Treasury Bills and Bonds in Sri Lanka

(Bloomberg) — Sri Lanka’s rupee was little changed ahead of the central bank’s monetary policy announcement in Colombo later this week.

* The monetary authority is scheduled to announce its rate decision on Thursday 4:30 p.m. Colombo time; all economists in a Bloomberg survey expect benchmark rates to be left unchanged.

* “We believe there is a strong case for a continuation of the policy rates while permitting the effect of the recent cut to materialize,” analysts at First Capital Research said in a note
* USD/LKR steady at 176.08.

* The yield on the nation’s 9.45% bonds due October 2021 fell 19bps Monday to 9.21%.

* Overseas investors bought a net $0.1m of local equities on Monday, helping pare withdrawals this year to $38.5m: exchange data

* Survey: Sri Lanka economy to expand 1.5% in 2Q19; prior +3.5%