The Monetary Board of the Central Bank of Sri Lanka, at a special meeting held on 06 May 2020, reviewed the current monetary policy stance and decided to reduce the Interest rate by 0.50%. Hence the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) fell to 5.50% and 6.50% respectively and Bank Rate to 9.5%. With this decision, policy interest rates of the Central Bank have been reduced by 150 basis points thus far in 2020, in addition to the other measures taken to ease monetary conditions in the market.
The Central Bank of Sri Lanka Further Reduces Policy Rates to Support Economic Activity
Interest RatesMay 6, 2020