CB slashes policy interest rates by 2%

6 July 2023 08:22 am - 5 - {{hitsCtrl.values.hits}}

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The Monetary Board of the Central Bank this morning announced a 200-basis point reduction in policy rates after slashing 250 basis points at the previous monetary policy review in June.

Accordingly, the Standing Deposit Facility Rate (SDFR) is now at 11 percent and the Standing Lending Facility Rate (SLFR) at 12 percent.

“The Board arrived at this decision following a careful analysis of the current and expected developments, including the faster-than-envisaged disinflation process and benign inflation expectations in the domestic economy, with the aim of enabling the economy to reach its potential and stabilising inflation at mid-single digit levels in the medium term, while easing pressures in the financial markets,” the Central Bank’s monetary policy review statement said.

Following is the web link to the full monetary policy statement released by the Central Bank this morning. https://www.cbsl.gov.lk/en/news/monetary-policy-review-no-5-of-2023

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Comments - 5

Unchikun Thursday, 06 July 2023 11:17 AM

Fitch Ratings slashed Sri Lanka's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. DM, now publish this.

Uthum Thursday, 06 July 2023 11:18 AM

Now will the SJB protest against this too?

Senior Citizen Thursday, 06 July 2023 11:50 AM

How can we senior citizens manage with this reduction in interests rate so often ? We need to purchase medicines and pay rent and travel by tuk to consult the doctors.. Is this reduction fair for us old folk ? Please help us with a decent living.. we have no income other than interest on our deposits.

Senior citizen Thursday, 06 July 2023 01:26 PM

I depend on my interest for a living monthly ... how can I pay my rent and buy food and medicines and travel to consult the doctors with this rate of interest?

Noel Friday, 07 July 2023 09:23 PM

Bamagate looks forward Sri Lanka future grow.

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CB slashes policy interest rates by 2%

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