Sri Lanka's central bank reduces interest rates by 50 bps to 8.50% SDFR, 9.50% SLFR, targeting 5% inflation amidst financial crisis.

Sri Lanka's central bank reduces interest rates by 50 basis points, lowering Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) to 8.50% and 9.50%, respectively. The move aims to maintain inflation at the targeted 5% level over the medium term while enabling the economy to reach its potential amidst the nation's worst financial crisis since gaining independence in 1948. The central bank has now reduced interest rates by a total of 700 basis points since last year.

March 26, 2024
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