The Monetary Board of the Central Bank of Sri Lanka which met yesterday (31) has decided to lower the Central Bank's Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) by 250 basis points.
Accordingly, it has been decided to reduce the regular deposit facility rate of the Central Bank to 13% and the regular credit facility rate to 14%.
This decision has been taken by the Monetary Board of the Central Bank of Sri Lanka in view of the lower-than-expected rate of inflation.
Furthermore, the CBSL states that the country's foreign reserves have exceeded 3 billion US dollars by the end of May.
Meanwhile, the Central Bank of Sri Lanka emphasized that the remittances of foreign employees have also increased significantly in the month of April - remittances of US$ 454 million have been received in April.
It is also reported that the tourist arrival in the month of April was at a lower level compared to last March, it is special that the tourist arrival has increased compared to the month of April 2022.
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