CB Chief and property market

Monday, 29 May 2017 00:01 - - {{hitsCtrl.values.hits}}

The Governor of the Central Bank Dr. Coomaraswamy is virtually killing the property and housing market by making off-the-cuff statements about the property sector.

He forgets that people like us live off this sector by selling condos and apartments. From the day he took over the interest rates have gone up by over 5 % and the exchange rate has worsened by Rs. 7. Can you call that performance? I am happy that the Chairman of Fairway has openly challenged him in the FT. You are being accused of pushing out the Finance Minister on many web pages for his aggressiveness against you. So Mr. Governor we all know you came through the back door, so instead of passing judgment on others do your job by reducing the interest rates and managing the exchange rates. Otherwise people will say you can only talk or you are doing a job for your former boss Cabraal. The housing industry needs low interest states and support. Not condemnation Mr. Governor.

Priyantha