trending Market Intelligence /marketintelligence/en/news-insights/trending/wpwcrbdjx_uzy4nnvcr3nq2 content esgSubNav
In This List

Sri Lanka central bank stands pat on rates


Banking Essentials Newsletter: 7th February Edition


Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Sri Lanka central bank stands pat on rates

The Central Bank of Sri Lanka left its key rates unchanged, saying the country's economic performance was still below potential.

The bank maintained its standing deposit facility rate at 7.25%, the standing lending facility rate at 8.75%, and the statutory reserve ratio at 7.50%.

In a statement, the bank said the Sri Lankan economy is expected to recover from the impact of adverse weather conditions in the past two years and benefit from higher external demand and foreign direct investment inflows.

"Improvements in the trade front, including the execution of new trade agreements supported by increased private investment driven by structural reforms, are also likely to provide the necessary impetus for the economy to achieve its potential in the medium term," the bank said.

The bank also kept its rates unchanged to hold inflation at mid-single-digit levels over the medium term.

In January, consumer prices rose 5.8% from a year ago, slowing from a 7.1% increase in December 2017.