Business

New Central Bank management retains current interest rates

27 January 2015 - 281   - 0

New Central Bank (CB) Governor Arjuna Mahendran didn’t effect major changes on Tuesday, while chairing his first meeting of the Monetary Board, keeping interest rates at current levels.

The CB in its monthly monetary policy review after a meeting of the board on Monday, decided to keep policy interest rates at previous levels.

It said with the appropriate macroeconomic policies to boost domestic and foreign investor confidence, the Sri Lankan economy is expected to record a robust performance in the period ahead.

“Taking the (above) developments in the economy into consideration, the Monetary Board at its meeting held on 26 January 2015, was of the view that the current monetary policy stance is appropriate, and accordingly, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank of Sri Lanka unchanged at 6.50 per cent and 8.00 per cent, respectively. Access to the Standing Deposit Facility (SDF) will remain rationalized,” the CB said in a statement.

The CB detailed out the developments in various sectors of the economy which it said was satisfactory. The policy interest rates set the tone for commercial bank interest rates.

There was no reference to the value of the rupee which has been under pressure from other international currencies, which market observers said, is likely to be adjusted in the market and not a CB policy statement. – Ends

  Comments - 0

  • Leave a comment



Top Stories

Case over threatening bond scam witness to be heard on Sept 9

The case filed against businessman Shanil Neththikumara for threatening the sibling of a witness who gave evidence against Minister Ravi Karunanaya...

22 August 2019 - Views : 36

PM organises dinner for UNP MP's as party members prepare for Matara rally

22 August 2019

SG Dilrukshi Wickramasinghe withdraws resignation request - sources

22 August 2019

Keith Noyahr's assault probe to end within two months - Police

22 August 2019



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

Bharatha Natyam Recital at the Swami Vivekananda Cultural Centre

A Bharatha Natyam Recital by Anuka King will take place at the Swami Vivekananda Cultural Centre (SVCC), Hi...

Discovery of exoplanets by Lankan Team

For the first time in the island’s history, a group of Sri Lankans has discovered a new extra-solar planetary s...

'Mega Pride - Pride of the Lion' photographic exhibition

The ‘Mega Pride – Pride of the Lion’ photographic exhibition by the Minister of Megapolis and Weste...

'Strings of Harmony' : Celebrations to mark the 73rd Independence Day of India

‘Strings of Harmony’ – a Santoor Jugalbandi by Pandit Shiv Kumar Sharma and his son Pandit Rahul Sh...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">