CBSL slashes SDFR and SLFR

Date:

By: Isuru Parakrama

Colombo (LNW): The Central Bank of Sri Lanka (CBSL) has relaxed its monetary policy stance, by slashing the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 250 basis points, following a meeting held by the Bank’s Monetary Board yesterday (31).

Accordingly, the SDFR has been reduced to 13 per cent and the SLFR, 14 per cent.

The decision has been made in response to the slowing of inflation, which is happening faster than expected, gradual dissipation of inflationary pressures and further anchoring of inflation expectations, a statement by the CBSL said.

“The commencing of such monetary easing is expected to provide an impetus for the economy to rebound from the historic contraction of activity witnessed in 2022, while easing pressures in the financial markets,” it added.

Full statement: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20230601_Monetary_Policy_Review_No_4_2023_e_E9qj4.pdf

Share post:

spot_imgspot_img

Popular

More like this
Related

Govt. Prepares National Tariff Policy to Boost Trade and Attract Investment

By: Staff Writer July 18, Colombo (LNW):The Sri Lankan government is...

Lanka Ashok Leyland Plans Electric Bus Rollout amid Push for Greener Public Transport

By: Staff Writer July 18, Colombo (LNW): Lanka Ashok Leyland PLC,...

Digital Transformation Hits a Wall: Company Registrar System Collapse Sparks Concerns Over Government’s Vision

To curb corruption and deliver more efficient, transparent public...

Sri Lanka Steps Up Anti-Money Laundering Fight with Oman Pact and Global Collaborations

In a significant move to strengthen its capabilities in...