Sri Lanka CBSL raised the benchmarked interest rate by 0.50%

CBSL raised the SDFR & SLFR by 0.50% as the majority of the market participants expected. CBSL has observed the rise of core inflation and it says, supply-driven price pressures are expected to be transitory, although the possible build-up of demand-driven inflationary pressures may be confronted by the rate adjustments.

In order to encourage the worker remittance into the country via formal channels, CBSL has extended the payment of the Rs10.00 incentive till April 2022.