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COLOMBO : Sri Lanka's central bank cut interest rates by 25 basis points in a surprise decision on Wednesday to support economic growth and propel the South Asian nation out of its worst financial crisis in decades. The Central Bank of Sri Lanka (CBSL) reduced the Standing Deposit Facility Rate to 8.25 pe

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Sri Lanka cuts rates by 25 basis points to foster growth

Sri Lanka's economy is expected to grow 3% in 2024 after Colombo secured a $2.9 billion lending programme from the IMF early last year

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By Uditha Jayasinghe COLOMBO (Reuters) –     Sri Lanka’s central bank cut interest rates by 25 basis points in a surprise decision on Wednesday to support economic growth and propel the South Asian nation out of its worst financial crisis in decades. The Central Bank of Sri Lanka (CBSL) reduced the Standing Deposit Facility Rate to 8.25% and the Standing Lending Facility Rate to 9.25%, it said in a statement. Nine out of 14 economists and analys…

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COLOMBO: Sri Lanka’s central bank cut benchmark interest rates Wednesday, marking the first reduction since finalising debt restructure plans with its international creditors. The Central Bank of Sri Lanka said it was trimming both lending and deposit rates by 25 basis points to continue easing monetary policy in a benign inflation environment. Inflation in June moderated to 1.7 percent compared with a peak of nearly 70 percent in September 2022…

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Pakistan

Sri Lanka cuts lending rates after debt restructure

By Uditha Jayasinghe COLOMBO (Reuters) –     Sri Lanka’s central bank cut interest rates by 25 basis points in a surprise decision on Wednesday to support economic growth and propel the South Asian nation out of its worst financial crisis in decades.  The Central Bank of Sri Lanka (CBSL) reduced the Standing Deposit Facility Rate to 8.25% and the Standing Lending Facility Rate to 9.25%, it said in a statement. Nine out of 14 economists and analy…

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The Monetary Policy Board of the Central Bank of Sri Lanka has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points (bps) to 8.25 per cent and 9.25 per cent, respectively. MORE..

Ada Derana

TV Derana

Sri Lanka

Sri Lanka central bank further reduces policy rates

ECONOMYNEXT – The Colombo Stock Exchange closed up marginally on Wednesday, after the central bank’s policy rate announcement earlier in the day.  The broader All Share Index closed up 0.90 percent, or 104.45 points, at 11,701; while the more liquid S&P SL20 Index closed up 1.35 percent, or 45.40 points, at 3,414. Turnover was low at 591 million. “Since there is an inverse relationship with the policy rate, the downward revision, or the downward…

EconomyNext

Sri Lanka stocks pick up a bit, after policy rate cut

The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization.

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Bank of Canada reduces policy rate by 25 basis points to 4½%

The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 23 July 2024, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points (bps) to 8.25 per cent and 9.25 per cent, respectively.

Sri Lanka cuts rates by 25 basis points to foster growth

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