Sri Lanka is registering a record 70% inflation rate but yet the Governor of the Central Bank Nandalal Werrasingha seems to be optimistic.
He believes that things may change to the better as inflation has hit its peak and a reverse may take place.
“We think we are seeing the peak of inflation,” central bank governor Nandalal Weerasinghe told the media in Colombo.
The governor o raised the policy rate by a staggering 700 basis points and it seems that it may have a positive influence of managing one of Asia’s highest inflation rates.
“It will be turning around and if that is lower in October, as we expect, then we can see that trend will continue,” the governor said.
Sri Lanka is home to the fastest inflation among 13 Asian economies
Currently, more food and fuel is available and Ranil Wickrmasingha seems relatively stable and getting on with his work with manageable resistance from the protesters.