Commercial banks (LCB) were asked to reduce their weekly Average Weighted Prime Lending Rate (AWPR)1 by at least 250 basis points by 27 December 2019, compared to their AWPR published by the Central Bank of Sri Lanka as at 26 April 2019. Central Bank says they observe that several LCBs have complied with the above Order, and in particular, some LCBs have reduced their AWPR sharply during the week ending 27 December 2019 from the previous week ending 20 December 2019 to meet this regulatory requirement. But some have failed.
Meeting of Targets on Average Weighted Prime Lending Rate (AWPR) for end 2019 CBSL clarifies their action with data
Interest RatesDec 31, 2019