Central Bank further tightens Monetary Policy Stance

The Central Bank of Sri Lanka (CBSL) has decided to further tighten the Monetary Policy Stance by increasing the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 100 basis points. 

Issuing a statement the bank said its Monetary Board has decided to increase the SDFR by 6.50% and the SLFR by 7.50%.

The CBSL pointed out that considering the severity of the external shocks and continued disruptions to domestic economic activity, the Monetary Board was of the view that a comprehensive policy package containing both traditional and non-traditional measures, along with other initiatives that have an impact on the overall economy, is essential to counter such economic headwinds.

–News Wire

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