The central bank has taken steps to reduce interest rates.
That was at the meeting held on July 23, 2024 by the Monetary Policy Board of the Central Bank of Sri Lanka.
According to the new decision, it has been decided to reduce the Standard Deposit Facility Rate (SDFR) to 8.25% and the Standard Loan Facility Rate (SLFR) to 9.25% by 25 basis points.
The Board has reached this decision after a careful assessment of possible risks and uncertainties, taking into account local and global trends, with a view to maintaining the target level of 5% inflation.
In arriving at this decision, the Board considered the need to continue the relaxed monetary policy stance.
Based on available information, inflation may remain below the 5% inflation target for the next few months before aligning with the target level over the medium term, the monetary policy board noted.
