Sri Lanka's central bank left its benchmark interest rate unchanged at 7 percent at its December meeting, saying the decision is consistent with the aim of maintaining inflation in the desired 4-6 percent range while supporting economic growth to reach its potential over the medium term. Meantime, domestic economic growth is expected to remain subdued in 2019, and a gradual recovery is expected over the medium term. Policymakers noted that inflation is expected to soften further in the period ahead, mainly due to the impact of the downward tax revisions and the reduction in selected administratively determined prices. The Standing Lending Facility Rate (SLFR) was also kept at 8 percent.

Interest Rate in Sri Lanka averaged 7.80 percent from 2003 until 2019, reaching an all time high of 10.50 percent in February of 2007 and a record low of 6 percent in April of 2015. This page provides - Sri Lanka Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Central Bank of Sri Lanka

Interest Rate in Sri Lanka is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Sri Lanka to stand at 6.50 in 12 months time. In the long-term, the Sri Lanka Interest Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.


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Sri Lanka Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.00 10.50 6.00 2003 - 2019 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-08-23 02:00 AM 7% 7.5% 7.5%
2019-10-11 02:00 AM 7% 7% 7%
2019-11-29 02:00 AM 7% 7% 7%
2019-12-27 02:00 AM 7% 7% 7%


News Stream
2019-11-29
Sri Lanka Holds Interest Rates Unchanged at 7%
Sri Lanka's central bank left its benchmark interest rate unchanged at 7 percent at its November meeting, saying the decision is consistent with the aim of maintaining inflation in the desired 4-6 percent range while supporting economic growth to reach its potential over the medium term. Meantime, domestic economic growth is expected to remain subdued in 2019, and a gradual recovery is expected over the medium term. The Monetary Board observed that the recent tax revisions would support lower inflation and higher economic growth in the short term, but was of the view that greater clarity with regard to the medium-term fiscal path of the government is required to assess the impact on the economy over the medium term. The Standing Lending Facility Rate (SLFR) was also kept at 8 percent.

2019-10-11
Sri Lanka Holds Key Rates at 7%
Sri Lanka's central bank left its benchmark interest rate unchanged at 7 percent at its October meeting, saying the decision is consistent with the aim of maintaining inflation in the desired 4-6 percent range while supporting economic growth to reach its potential over the medium term. Policymakers noted that the annual inflation rate quickened to 5.0 percent in September, boosted by food prices that might cause headline inflation to remain somewhat elevated during the rest of 2019. Still, amid subdued demand conditions, core inflation is expected to revert to low levels from January 2020, mainly with the dissipation of the effect of the one-time large adjustment to house rentals in early 2019. The Committee added that domestic economic growth is expected to remain subdued in 2019, and a gradual recovery is expected over the medium term. The Standing Lending Facility Rate (SLFR) was also kept at 8 percent.

2019-08-23
Sri Lanka Cuts Key Rate by 50 Bps to 7%
The Central Bank of Sri Lanka lowered its benchmark interest rate by 50 bps to 7 percent during its August meeting. Policymakers said that the decision aims to continue supporting economic activity in the context of low inflation. The Committee added that domestic economic growth is expected to recover gradually towards its potential in the medium term, still domestic and global headwinds are likely to delay the recovery. Policymakers noted that the annual inflation rate fell to 3.3 percent in July from 3.8 percent in June, partly driven by subdued food prices and it is projected to remain around the lower bound of the target range (4-6 percent) during the rest of 2019. The central bank also slashed the standing lending facility rate (SLFR) by 50 basis points to 8 percent.

2019-07-11
Sri Lanka Holds Key Interest Rate at 7.5%
The Central Bank of Sri Lanka held its benchmark interest rate at 7.5 percent during its July meeting, saying that the current policy stance is consistent with the aim of maintaining inflation well anchored within the 4-6 percent target range while supporting economic growth to reach its potential over the medium term.

2019-05-31
Sri Lanka Cuts Key Rates by 50 Bps to 7.5%
The Central Bank of Sri Lanka lowered its benchmark interest rate by 50 bps to 7.5 percent on May 31st 2019. This was the first rate cut in more than a year, amid anticipation of a lower 2019 GDP growth after tourism and investment plunged in the wake of Easter Sunday bombings. In 2018, the economy is struggling already, with growth easing to a 17-year low of 3.2 percent, due to prolonged political crisis and past policy tightening. Policymakers also highlighted that market lending rates had failed to show any sign of commensurate downward adjustment, despite recent liquidity injections and falls in the call money rate, government bond yields and the maximum interest rates on deposit products. In April, private sector credit growth slowed to near a 5-1/2-year low of 8.8 percent. The Standing Lending Facility Rate/SLFR was also cut by 50 bps to 8.5 percent.

2019-04-08
Sri Lanka Holds Key Interest Rate at 8%
The Central Bank of Sri Lanka kept its standing deposit facility rate steady at 8 percent during its April meeting, saying GDP growth is expected to improve gradually but remain moderate in 2019 while inflation is likely to remain within the desired range of 4-6 percent. The standing lending facility rate was also left unchanged at 9 percent.


Sri Lanka Interest Rate
In Sri Lanka, interest rates decisions are taken by The Central Bank of Sri Lanka. The official interest rates are the Standing Deposit Facility (SDF) Rate and the Standing Lending Facility (SDFR) Rate.

Sri Lanka Money Last Previous Highest Lowest Unit
Interest Rate 7.00 7.00 10.50 6.00 percent [+]
Interbank Rate 8.42 8.42 27.58 0.13 percent [+]
Money Supply M0 627073.00 621555.00 687638.00 602.00 LKR Million [+]
Money Supply M1 817647.00 810596.00 853568.00 6091.00 LKR Million [+]
Money Supply M2 6790393.00 6743725.00 6790393.00 11297.00 LKR Million [+]
Foreign Exchange Reserves 1356934.00 1412856.00 1566323.60 437.10 LKR Million [+]
Banks Balance Sheet 9624866.20 9526808.90 9624866.20 335513.60 LKR Million [+]
Deposit Interest Rate 7.00 7.00 20.00 6.00 percent [+]
Cash Reserve Ratio 5.00 5.00 11.00 5.00 percent [+]
Central Bank Balance Sheet 1911778.50 1970473.00 2140525.40 297382.00 LKR Million [+]
Lending Rate 8.00 8.00 23.00 7.50 percent [+]