New deposits rates and new lending rates have fallen by on average 0.60% from December 2019 to the end of March 2020 among the Commercial banks in Sri Lanka. during this period CBSL cut down the benchmarked interest rates by 0.75% and from the end of March to May CBSL brought a further 0.75% cut on the interest rates to boost the economy which is finding it hard to pick-up. But at the end of March, the average weighted new lending rate was 12.19%, which has fallen by 2.16% from June last year. CBSL cut the rates by 2.25% during this period.
New deposit rates and new lending rates have fallen 0.60 percent in 1Q compared to the level seen at end of last year
Interest RatesMay 24, 2020