The Central Bank of Sri Lanka left its benchmark interest rates at a record high of 14.5% during its November meeting, as widely expected, amid ongoing efforts from the central bank and government to tame surging inflation. The board said that the current accommodative monetary policy stance was appropriate to achieve the envisaged disinflation path in the period ahead and bring down inflation to the targeted level of 4-6% over the medium term while supporting the economy to reach its potential over the medium term. The annual inflation rate eased to 66% in October of 2022, from a record 69.8% in September, due to an economic and political crisis and a plunging currency. The board also kept the Standing Lending Facility Rate at 15.5%. source: Central Bank of Sri Lanka
Interest Rate in Sri Lanka averaged 7.72 percent from 2003 until 2022, reaching an all time high of 14.50 percent in July of 2022 and a record low of 4.50 percent in July of 2020. This page provides - Sri Lanka Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sri Lanka Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Interest Rate in Sri Lanka is expected to be 14.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Interest Rate is projected to trend around 14.50 percent in 2023 and 5.50 percent in 2024, according to our econometric models.