CBSL hikes policy rate to 8.75%

Central Bank of Sri Lanka

The Central Bank of Sri Lanka (CBSL) has decided to increase the Overnight Policy Interest Rate by 100 basis points to 8.75%.

This decision was taken during the Monetary Policy Board meeting held yesterday (May 25).

The Central Bank of Sri Lanka stated that the Monetary Policy Board arrived at this decision after carefully considering prevailing domestic and global conditions, as well as possible future developments.

In March this year, the Central Bank of Sri Lanka had decided to maintain the Overnight Policy Interest Rate at 7.75%.