The Central Bank of Sri Lanka (CBSL) has questioned recent suggestions by certain SJB politicians with regard to treasury bill auctions and changes to policy interest rates.

The CBSL has taken all measures for a proper, irregularities-free and reliable mechanism with regard to both, said a bank spokesman.

Treasury bill auctions take place to fulfill financial requirements of the state in a process that takes up several weeks pursuant to a notification by the treasury to the CBSL’s department of state finance.

Its monetary board decides the policy interest rates on the basis of the direction of the economy, said the spokesman.

However, two ex-MPs of the SJB have found fault with the CBSL for not waiting until a reduction in policy interest rates to hold the treasury bill auction.

The spokesman questioned if they wanted the monetary board to confide with the treasury in advance about a reduction in policy interest rates before the treasury bill auction takes place.

He said the SJB politicians should have made such insinuations either due to ignorance or due to some other reason.


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