Sri Lanka’s central bank is looking forwered to bring down inflation rate to 4-6 percent from the current 7 percent inflation regitered for 2017. expecting inflation to reduce to its target range of mid-single digits in 2018, with near term monetary policy to be data driven, said, after generating over
“By the end of the first quarter (of 2018) we will be within the target range. Central Bank Governor Indrajit Coomaraswamy said.
Sri lanks’s cost of liveing incresed while global commodity prices were on the decline and now global commodity prices have started to pick up .
The rupee has collapsed from around 131 to 153 to the US dollar during the last year three years due to massive money printing. Coomaraswamy said in 2018, the central bank will be data driven in its policy changes. Coomaraswamy tightened policy after he was appointed, ending a balance of payments crisis and capital flight, and the credit system and economy is now stabilizing, comments economy next.