The Central Bank of Sri Lanka (CB) announced that the Monetary Policy Review No. 05 of 2024, originally scheduled for release on the 20 September, has been rescheduled.

The updated release date will be Friday, 27 September, at 7.30 a.m.

According to the Monetary Policy Review No. 04 of 2024, the Central Bank of Sri Lanka further reduces policy interest rates.

The standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) of the Central Bank of Sri Lanka were determined to be lowered by 25 basis points (bps) to 8.25% and 9.25%, respectively, by the Monetary Policy Board of the Central Bank.

In order to maintain inflation at the targeted level of 5% over the medium term while allowing the economy to grow to its full potential, the board carefully considered potential risks and uncertainties on both the domestic and global fronts before coming to this decision.

The Monetary Policy Review No. 04 of 2024 also stresses on following crucial factors such as headline inflation, which is projected to remain below the inflation target in the near term, the recovery in domestic economic activity is expected to sustain, the downward adjustment in market lending rates remained slow, a positive momentum is observed in the external sector thus far in 2024, and policy interest rates are further reduced to induce downward adjustments in retail lending rates, reported in the CBSL report.