Interest rates in Sri Lanka were left unchanged on Tuesday. a decision made at the regular monthly meeting of the Monetary Board of the Central Bank, following an improvement in the local and external (economic) environment.
At Monday’s meeting, the board decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at 7.25 per cent and 8.75 per cent, respectively. The Statutory Reserve Ratio (SRR) continue at 7.50 per cent.
“Considering developments in the domestic and international macroeconomic environment, the Monetary Board was of the view that the current monetary policy stance is appropriate. Accordingly, the policy interest rates of the Central Bank of Sri Lanka will remain unchanged at their current levels,” the banking regulator said in a statement, early on Tuesday.
The decision to continue current interes rates comes ahead of the Government's 2018 national budget being presented on Thursday, November 9. The Central Bank sets benchmark rates which are then followed by banks and financial institutions. - ENDS -
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