The Central Bank of Sri Lanka (CBSL) has decided to maintain its Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels.
Issuing a statement, the CBSL stated that the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) have been maintained at their current levels of 14.50 per cent and 15.50 per cent, respectively.
The decision was taken at the meeting of the CBSL’s Monetary Board held yesterday (24).
The Board, having noted the recent and expected developments and projections on the domestic and global macroeconomic fronts, was of the view that the maintenance of the prevailing tight monetary policy stance is imperative to ensure that monetary conditions remain sufficiently tight to rein in inflationary pressures.
The Monetary Board stated that such tight monetary conditions, together with the tight fiscal policy, are expected to adjust inflation expectations downward, enabling the Central Bank to bring inflation rates towards the desired levels by the end of 2023, thereby restoring economic and price stability over the medium term.