Tuesday, December 6, 2022

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CBSL raises interest rates

The Monetary Board of the Central Bank of Sri Lanka has decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 5.50% and 6.50% respectively.

Meanwhile, the bank rate will automatically rise to 9.50 percent, adjusting with the regular credit facility rate.

However, the Monetary Board has decided to maintain the statutory reserve ratio at the current level of 4.00%.

This decision by the Central Bank is known as the “Compression Monetary Policy”.

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