Notable
Deficits do not rise much in the year that a currency crisis is triggered, but in the stabilization year
Targeting GDP with easy money dates back to Scottish Mercantilist John Law and fully flexible policy to James Steuart.
High direct tax rates, capital consumption taxes, are not a substitute for monetary stability
Countries where inflationists cannot engage in macro-economic policy with money printing have low debt
A positive inflation target denies private sector productivity gains to the poor
At the moment the central bank is providing monetary stability seen in the exchange rate and inflation
That BOP deficits and reserve losses are caused by money printing is now hidden and victims are blamed
Fear of a DDR/IFR event drive rates even higher
Indian billion dollar credit line also works Undiyal fashion
It is through open market operations that money is printed to mis-target interest rates
The absolute discretion to print money through flexible inflation targeting cum output gap targeting has to be blocked
Forcing food importers to use LCs can create food shortages.
Steep rate hikes are needed to save the rupee
A flexible exchange rate fails because it is not rule bound
Monetary fiscal co-ordination comes from an International Monetary Fund
Sterilized currency defence, without an accompanying rise in rates, spells disaster
| Latest | Last | |
|---|---|---|
| US Dollar | 305.1018 | 305.3339 |
| UK Pound | 386.9523 | 387.2371 |
| Euro | 330.8712 | 332.1141 |
| Aus Dollar | 201.0018 | 201.4980 |
| Yen | 2.0266 | 2.0278 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.6453 | 3.5932 |
| Korea Won | 0.2342 | 0.2292 |
| Oman Rial | 780.3569 | 769.4973 |
| Saudi Riyal | 80.1114 | 78.9849 |
| UAE Dirham | 81.7952 | 80.6569 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,573.80 | 1.00% |
| CSE All Share | 9,073.41 | 0.65% |
| Turnover Rs million | 1,591,766,524.95 | 1,029,335,694.32 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.72 | 21.79 |
| 6-m bill | 19.55 | 20.31 |
| 12-m bill | 17.72 | 19.28 |
| 5-yr bond | 21.00 | 22.53 |
| 8-yr bond | 19.42 | 20.55 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
At the current policy rates and sterilization of interventions, forex problems will not get better
The proposal to import cars with dollar earnings and pay taxes in dollars is absolutely correct
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In all years with inflationary policy, debt after foreign reserves went up
Debt re-structuring to reduce gross financing needs will help
Diocletian minted in copper in plenty what was scarce in silver, Sri Lanka is pumping liquidity in paper
Mercantilist fallacies have devasted countries at peace
'A new type of superstition has got hold of people's minds, the worship of the state'
Sri Lanka's central bank is running out of reserves, a part of the remaining reserves are tied up in swaps, the country ...
In Sri Lanka politicians are blamed for the country's economic ills and rising default risk, but it is only partly their...
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