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 -
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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