The Central Bank (CB) on Tuesday said it was removing the 5 per cent Special Standing Deposit Facility Rate with immediate effect (from March 2). “By end 2014, on a year-on-year basis, private sector credit (has) grown by 8.8 per cent. Given the signs of sustained increase in credit flows to the private sector, the view of the Central Bank is that restrictions placed on the access to the SDF are no longer required. Accordingly, the 5 per cent SDF rate was withdrawn with effect from 2 March 2015. The Central Bank is also of the view that removal of the special SDF rate of 5 per cent would help to stabilise overnight interest rates within the policy rate corridor of the Central Bank,” the CB said in a media statement. - ENDS -
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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