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CBSL has disappointed the market this time? Fri Jun 07, 2013 10:54 am
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 11:01 am
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 11:28 am
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 12:38 pm Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 1:03 pm
I share your opinion: At the macro level, last month's rate cut by CBSL exceeded most analysts' expectations.@Light of Hope wrote:Cannot expect rate cuts all the time. I don't think there will be anymore for this year.
Yesterday, I was in discussions with a certain bank for a better FD interest rate (than what they had advertised on their website). Sometimes, they oblige. But yesterday, their response was: "The Treasury said they cannot improve the rate as a rate reduction is expected."@Light of Hope wrote:But lending and deposit rates could ease as a result of the Earlier rate cuts.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 5:58 pm@Antonym wrote:I share your opinion: At the macro level, last month's rate cut by CBSL exceeded most analysts' expectations.@Light of Hope wrote:Cannot expect rate cuts all the time. I don't think there will be anymore for this year.Yesterday, I was in discussions with a certain bank for a better FD interest rate (than what they had advertised on their website). Sometimes, they oblige. But yesterday, their response was: "The Treasury said they cannot improve the rate as a rate reduction is expected."@Light of Hope wrote:But lending and deposit rates could ease as a result of the Earlier rate cuts.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:31 pmWith the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.@hariesha wrote:Last December CBSL did the first rate cut after couple of years and allowed the market to adjust. Then they issue a circular in March indicating the maximum FD rate. This make the way for the reduction of FD rates by 1.5-2.5%. I think CBSL will do the same in August and bring the one year rate to less than 14%. This can trigger the 2nd solid wave for 2013 in CSE.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:36 pm
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:38 pm@Antonym wrote:With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.@hariesha wrote:Last December CBSL did the first rate cut after couple of years and allowed the market to adjust. Then they issue a circular in March indicating the maximum FD rate. This make the way for the reduction of FD rates by 1.5-2.5%. I think CBSL will do the same in August and bring the one year rate to less than 14%. This can trigger the 2nd solid wave for 2013 in CSE.
I was looking at FD interest rates... but couldn't find any good bank offering more than 12.75% for a one year deposit. I'm wondering whether CBSL has already instructed the banks to not offer more than 13%...
Last edited by econ on Fri Jun 07, 2013 6:50 pm; edited 2 times in total
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:46 pm Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:52 pm
@Antonym wrote:
With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 6:59 pm
@Antonym wrote:With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.@hariesha wrote:Last December CBSL did the first rate cut after couple of years and allowed the market to adjust. Then they issue a circular in March indicating the maximum FD rate. This make the way for the reduction of FD rates by 1.5-2.5%. I think CBSL will do the same in August and bring the one year rate to less than 14%. This can trigger the 2nd solid wave for 2013 in CSE.
I was looking at FD interest rates... but couldn't find any good bank offering more than 12.75% for a one year deposit. I'm wondering whether CBSL has already instructed the banks to not offer more than 13%...
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 7:05 pm@econ wrote:@Antonym wrote:With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.@hariesha wrote:Last December CBSL did the first rate cut after couple of years and allowed the market to adjust. Then they issue a circular in March indicating the maximum FD rate. This make the way for the reduction of FD rates by 1.5-2.5%. I think CBSL will do the same in August and bring the one year rate to less than 14%. This can trigger the 2nd solid wave for 2013 in CSE.
I was looking at FD interest rates... but couldn't find any good bank offering more than 12.75% for a one year deposit. I'm wondering whether CBSL has already instructed the banks to not offer more than 13%...
it is better to try at good finance companies such as VFIN, CDB, CFIN etc. Most of them offer over 15% for senior citizen fixed deposits. We just need to add father or mother as a joint holder.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 7:08 pmI hope it doesn't drop a lot more, but I don't have a target in mind. However, at these elevated levels, I'm not putting any fresh money into stocks. Not pulling out funds either. Just reallocating my portfolio.@slstock wrote:Do you expect it to drop a lot more ? What it your target guess?@Antonym wrote:
With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 7:15 pmI normally bank with Commercial, but I check rates offered by HNB, Sampath and a couple of others.@funland wrote:@Antonym wrote:With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.
I was looking at FD interest rates... but couldn't find any good bank offering more than 12.75% for a one year deposit. I'm wondering whether CBSL has already instructed the banks to not offer more than 13%...
May we know why you are looking for a good bank for 1-yr FD?How about HDFC? As per the below link they offer 13.5%. Is HDFC a bad bank for 1-yr deposit?
http://www.hdfc.lk/pages/interest_rates/fixed_deposits.jsp
Union bank , DFCC rate options Fri Jun 07, 2013 8:07 pm
@Antonym wrote:I normally bank with Commercial, but I check rates offered by HNB, Sampath and a couple of others.@funland wrote:@Antonym wrote:With the stock market having risen over the past month or so, the downside risks appear to be greater than the potential for a further increase. So, I decided against putting this month's savings into the stock market.
I was looking at FD interest rates... but couldn't find any good bank offering more than 12.75% for a one year deposit. I'm wondering whether CBSL has already instructed the banks to not offer more than 13%...
May we know why you are looking for a good bank for 1-yr FD?How about HDFC? As per the below link they offer 13.5%. Is HDFC a bad bank for 1-yr deposit?
http://www.hdfc.lk/pages/interest_rates/fixed_deposits.jsp
I did not check with HDFC, which is also a good bank. If HDFC's rate is 13.5% for a 1-year FD (as the website says), that's a very generous rate because ComB, HNB & sampath are offering only 12%.
Re: CBSL has disappointed the market this time? Fri Jun 07, 2013 10:34 pm
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