Central Bank of Sri Lanka

Central Bank of Sri Lanka Keeps Monetary Policy Stance Unchanged

November 29, 2016

The Standing Deposit Facility Rate was kept at 7.0%, and the Standing Lending Facility Rate remains at 8.5%. Each had been raised twice earlier this year in February and July. Those moves and a 150-basis point hike of reserve requirements last December represent a trend reversal after four 50-basis point cuts between October 2012 and […] More

Central Bank of Sri Lanka

May 20, 2016

A 50-basis point hike in the lending and borrowing rates three months ago to 8.0% and 6.5% had been characterized by monetary officials as a pre-emptive move:  “Excessive growth of broad money fuelled by domestic credit expansion in the midst of continued upward trend in underlying inflation requires pre-emptive policy measures in order to contain […] More

Central Bank of Sri Lanka

March 18, 2015

Sri Lankan central bank interest rates consisting of an 8.0% reverse repo and a 6.5% repo rate were left unchanged for a 13th straight meeting.  Previously these rates had been reduced by 50 basis points each in December 2012 and August and October of 2013.  A statement released by the central bank reviewed Sri Lanka’s […] More

Central Bank of Sri Lanka

February 25, 2015

Sri Lankan central bank interest rates haven’t changed in slightly over a year.  The Standing Lending Facility Rate has been at 8.0% since a 50-basis point cut in January 2014, and Standing Deposit Facility rate has been 6.5% since it was last reduced in October 2013.  As inflation receded, both rates were cut by a […] More

Sri Lankan Monetary Policy Settings Deemed Still Appropriate

January 27, 2015

The latest policy review at the Central Bank of Sri Lanka retained an 8% lending rate, a 6.5% deposit rate, and a 6% reserve requirement ratio.  The interest rates arrived at current levels after reductions in each of 25 bps in December 2012, 50 bps in May 2013 and 50 bps in October 2013, plus […] More

Central Bank of Sri Lanka

November 18, 2014

The central bank lending rate (reverse repo) and borrowing rate (repo) have been at 8.0% and 6.5% since the former was cut from 8.5% last January.  Between December 2012 and October 2013, each of those rates also were lowered in three steps by a cumulative 125 basis points.  Falling inflation justified these reductions.  On-year CPI […] More

Central Bank of Sri Lanka Tweaks Policy to Promote Faster Bank Lending

September 23, 2014

A quarterly monetary policy review released today applauds Sri Lanka’s buoyant growth and benign inflation but expresses disappointment with the pace of bank lending in spite of previous reductions of the central bank’s key interest rates.  The central bank lending rate (a.k.a. reverse repo rate) and its repo rate were sliced by 25 basis points […] More

Central Bank of Sri Lanka: No Rate Change

June 18, 2014

Between December 2012 and October 2013, Sri Lankan monetary authorities implemented three cuts in their key lending and deposit rates totaling 125 basis points.  In January of this year, there was a further 50-basis point reduction of the lending rate, which with an unchanged deposit rate narrowed the reverse repo of 8.0% versus repo rate […] More

Central Bank of Sri Lanka Leaves Key Interest Rates Unchanged

May 20, 2014

Sri Lankan central bank officials left the reverse repo and repo rates at 8.0% and 6.5%, respectively, as expected.  A released statement stressed benign continuing inflation prospects.  Both rates had been cut by 25 basis points in December 2012, 50 bps in May 2013, and 50 bps in October 2013.  The reverse repo but not […] More

Central Bank of Sri Lanka

March 21, 2014

For a second meeting since a 50-basis point cut of the Sri Lankan reverse repo rate to 8.0% — a move that was opposed by the IMF — officials elected not to change either that interest rate or the borrowing repo rate of 6.5%.  Both rates had been cut by 25 basis points in December […] More

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