Central Bank of Sri Lanka

May 9, 2017

The statement released after the latest policy review by Sri Lanka’s Monetary Board calls the current stance appropriate, observes a deceleration in the capital city of Colombo, and projects a similar drop of inflation nationally to mid-single digits by the end of this year. Officials also expect credit growth to slow down in line with substantially high market interest rates. The Standing Deposit Facility rate and Standing Lending Facility rate have been at 7.25% and 8.75% since 50-basis point increases in July 2016. Rates also had been tightening by 50 basis points five months earlier. Previously, there had been four 50-bp cuts between October 2012 and April 2015.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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