Sri Lankan central bank threatens regulatory action to bring down rates


Central Bank of Sri Lanka headquarters

Central Bank of Sri Lanka headquarters

The Central Bank of Sri Lanka is threatening banks with regulatory action if they fail to pass on rate cuts.

The CBSL’s monetary board cut its main deposit and lending rates by 50 basis points at an unscheduled meeting on May 6. The deposit rate now stands at 5.5% and the lending rate at 6.5%, both down 150bp since the start of the year. Required reserves are unchanged at 4%.

But the monetary board expressed its “disappointment” that market rates had not followed the central bank rates down.

You are currently unable to copy this content. Please contact [email protected] to find out more.



Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!

Comments