The Central Bank of Sri Lanka held its benchmark interest rate unchanged at 4.5 percent at its November meeting, but stressed the need for a continued downward adjustment in lending rates to boost economic growth in the absence of demand driven inflationary pressures, particularly considering the significant levels of excess liquidity prevailing in the domestic money market. The Bank has cut interest rates by a total 350 basis points since May last year, when the deadly Easter bomb attacks triggered a slump in investment and tourism which was followed by the coronavirus pandemic in early 2020. The central bank said that accommodative monetary policy stance would continue and that it will introduce maximum interest rates on mortgage backed housing loans for salaried workers and set lending targets for select sectors in the near future.The Standing Lending Facility Rate (SLFR) was also kept at 5.5 percent. source: Central Bank of Sri Lanka
Interest Rate in Sri Lanka averaged 7.69 percent from 2003 until 2020, 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 January of 2021.
Interest Rate in Sri Lanka is expected to be 4.50 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 4.50 in 12 months time. In the long-term, the Sri Lanka Interest Rate is projected to trend around 4.50 percent in 2021, according to our econometric models.