The Central Bank of Sri Lanka kept unchanged its key lending and borrowing rates during its May meeting, after a massive 700 basis point rise in April, while highlighted the need for more fiscal measure and political stability for the economy. The Standing Lending Facility rate stayed at 14.5% and the Standing Deposit Facility Rate was steady at 13.5%. The board noted that headline inflation in the country would remain escalated in the near term, due to supply shortages, surging commodity prices, and the weakening local currency against the USD. "However, inflation is expected to moderate thereafter, on the impact of corrective policy measures and the expected improvements in both domestic and global supply," it added. On the GDP outlook, the board said economic activity was expected to record a setback this year, as reflected by some leading indicators. Policymakers emphasized they stand ready to take appropriate measures to help reinforce greater macroeconomic stability ahead. source: Central Bank of Sri Lanka

Interest Rate in Sri Lanka averaged 7.56 percent from 2003 until 2022, reaching an all time high of 13.50 percent in April 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 June of 2022.

Interest Rate in Sri Lanka is expected to be 13.50 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.

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Sri Lanka Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-04 02:00 AM 6.5% 5.5% 6%
2022-04-08 12:20 PM 13.5% 6.5% 7.5%
2022-05-19 02:00 AM 13.5% 13.5% 14.5%
2022-07-07 02:00 AM 13.5%
2022-08-18 02:00 AM
2022-10-13 02:00 AM


Related Last Previous Unit Reference
Interest Rate 13.50 13.50 percent May 2022
Interbank Rate 6.96 6.96 percent Jun 2022
Money Supply M1 1589614.00 1507095.00 LKR Million Mar 2022
Money Supply M0 1005099.00 969394.40 LKR Million Dec 2021
Money Supply M2 10073329.00 9735818.00 LKR Million Mar 2022
Foreign Exchange Reserves 1920.00 1812.00 USD Million May 2022
Banks Balance Sheet 14732561.20 13565521.80 LKR Million Mar 2022
Deposit Interest Rate 5.50 5.00 percent Jan 2022
Cash Reserve Ratio 4.00 4.00 percent Jun 2022
Lending Rate 14.50 7.50 percent Apr 2022
Central Bank Balance Sheet 3629874.60 3167294.90 LKR Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
13.50 13.50 13.50 4.50 2003 - 2022 percent Daily

News Stream
Sri Lanka Holds Rates
The Central Bank of Sri Lanka kept unchanged its key lending and borrowing rates during its May meeting, after a massive 700 basis point rise in April, while highlighted the need for more fiscal measure and political stability for the economy. The Standing Lending Facility rate stayed at 14.5% and the Standing Deposit Facility Rate was steady at 13.5%. The board noted that headline inflation in the country would remain escalated in the near term, due to supply shortages, surging commodity prices, and the weakening local currency against the USD. "However, inflation is expected to moderate thereafter, on the impact of corrective policy measures and the expected improvements in both domestic and global supply," it added. On the GDP outlook, the board said economic activity was expected to record a setback this year, as reflected by some leading indicators. Policymakers emphasized they stand ready to take appropriate measures to help reinforce greater macroeconomic stability ahead.
2022-05-19
Sri Lanka Hikes Key Rates by 700 Bps amid Crisis
The Central Bank of Sri Lanka raised its key interest rates by 700 basis points at its April 8th 2022 meeting, hiking the standing deposit facility rate to 13.5% and the standing lending facility rate to 14.5%, amid the island nation’s worst-ever economic and political crisis. The monetary board said it was imperative to stop the buildup of demand driven inflationary pressures and of rising inflation expectations, as well as to stabilize the rupee’s exchange rate and correct anomalies in money markets. The rupee has lost more than a third of its value since the central bank implemented a flexible exchange rate policy on March 8th amid growing fears of a sovereign default. At the same time, the pandemic-induced contraction in the key tourism sector and the global rise in commodity prices left the country’s external position in a fragile situation, leading to dwindling foreign exchange reserves and several downgrades from credit ratings agencies.
2022-04-08
Sri Lanka Hikes Key Rate by 100 Bps to 6.5%
The Central Bank of Sri Lanka raised its key interest rates by 100 bps to 6.5% during its March meeting, amid inflationary pressures and geopolitical tensions in Eastern Europe. The decision followed a 50 basis points hike in January, bringing the rate to levels not seen since February 2020. Annual inflation in the country hit its highest in over 13 years at 15.1% in February 2022 amid a record rise in prices of food products. The central bank also lifted Standing Lending Facility Rate (SLFR) by 100 bps to 7.5%. The Board also decided to revise upwards the caps imposed on interest rates applicable to credit cards to 20% per annum, on pre-arranged temporary overdrafts to 18 % per annum, and on pawning facilities to 12% per annum. Meanwhile, directions to effect these regulated interest rates will be issued shortly.
2022-03-04