The monetary board of the Sri Lankan central bank decided to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 100 basis points to 10.00 percent and 11.00 percent, respectively, it said in a statement on Thursday.
Central Bank of Sri Lanka said it took this decision at the monetary board meeting held on Wednesday.
The central bank said the monetary board arrived at this decision following a careful analysis of the current and expected developments, including low inflation and benign inflation expectations in the domestic economy, with the aim of stabilizing inflation at the envisaged 5 percent level in the medium term, thereby enabling the economy to reach its potential growth.—APP
