The Central Bank has decided to maintain its policy interest rates unchanged.

The Monetary Board of the CBSL, which convened on Tuesday March 17, had decided to continue with the low rates. The CBSL says that headline inflation, on a year-on-year basis, decreased significantly to 0.6 percent in February 2015 from 3.2 percent in the previous month.

Furthermore, the Central Bank’s monthly statement notes that credit obtained by the private sector from commercial banks increased by 11.5 percent, year on year, in January 2015, while in absolute terms, credit disbursements during the month amounted to Rs. 21 billion.

The Central Bank also notes that the economy grew by 7.4 percent last year. The economy grew by 7.3 percent in 2013.

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