Written by Pavani Hapuarachchi
08 Jul, 2021 | 1:28 pm
COLOMBO (News 1st): The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 4.50 percent and 5.50 percent, respectively.
“Although GDP estimates for the first quarter of 2021 have not been released by the Department of Census and Statistics, indicators for several key sectors of the economy point towards a stronger than expected recovery during the quarter,” the CBSL said in its Monetary Policy Review on Thursday (Jul. 08).
According to the Governor of the Central Bank of Sri Lanka, measures were already taken to limit non-essential outflows, since the COVID-19 pandemic had affected the inflows from tourism and many other investment inflows.
“We understand that some segments of the economy may get affected due to these measures. But these measures are taken for the betterment of the country. Even while making sizeable debt service obligations, the official reserves were maintained in June 2021 unchanged from the levels that were observed in the previous months,” Prof. W.D. Lakshman, the Governor of the Central Bank elaborated.
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