Apr 16, Colombo: Sri Lanka’s Central Bank Thursday said the Bank Rate, which is an administratively determined rate that could be used in periods of emergency, has been reduced by 500 basis points from 15 to 10 percent.
“The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 15 April 2020, having observed the cumulative reduction of the key policy interest rates of the Central Bank, namely the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR), by 200 basis points each since 31 May 2019, decided to allow the Bank Rate to automatically adjust in line with the SLFR, with a margin of +300 basis points,” the Central Bank said.
“Accordingly, with effect from 16 April 2020, the Bank Rate, which is an administratively determined rate that could be used in periods of emergency, has been effectively reduced by 500 basis points from 15.00 percent to 10.00 percent.”
By colombo page
“The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 15 April 2020, having observed the cumulative reduction of the key policy interest rates of the Central Bank, namely the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR), by 200 basis points each since 31 May 2019, decided to allow the Bank Rate to automatically adjust in line with the SLFR, with a margin of +300 basis points,” the Central Bank said.
“Accordingly, with effect from 16 April 2020, the Bank Rate, which is an administratively determined rate that could be used in periods of emergency, has been effectively reduced by 500 basis points from 15.00 percent to 10.00 percent.”
By colombo page
