The Central Bank of Sri Lanka raised its benchmark interest rate by 50 bps to 5.0 percent at its August meeting. It was the first rate hike since November 2018, with policymakers mentioning the aim of stabilizing inflation at mid-single digit levels in the medium term to support the sustained economic recovery towards achieving a GDP growth rate of over 5 percent in 2021. Policymakers said inflation is expected to hover around the upper bound of the desired 4-6 percent target range in the near term. The Standing Lending Facility Rate was also raised by 50 bps to 6.0 percent. At the same time, the Monetary Board decided to increase the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 2.0 percentage points to 4.0 percent, with effect from the reserve maintenance period commencing on September 1st, 2021. source: Central Bank of Sri Lanka
Interest Rate in Sri Lanka averaged 7.57 percent from 2003 until 2021, reaching an all time high of 10.50 percent in February of 2007 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 October of 2021.
Interest Rate in Sri Lanka is expected to be 5.00 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 5.50 percent in 2022, according to our econometric models.