– The Central Bank of Sri Lanka said on Thursday that it has decided to keep its Standing Deposit Service Fee and Loan Standing Service Fee at the current level of 14.50 percent and 15.50 percent respectively.
Its Monetary Board made the decision after considering recent and expected developments related to the national and world economy, as well as macroeconomic projections, the bank said in a press release.
The board noted that a tight monetary policy stance is necessary to contain any demand-driven inflationary pressure on the economy.
This will help the Southeast Asian country reduce inflation toward the target range of 4 to 6 percent in the medium term, according to the bank.
Supported by favorable developments on the supply side and tight monetary policy measures, inflation fell in October after peaking in September, the bank said.
Inflation will continue to fall in the coming months largely due to a drop in demand, expected improvements in domestic supply and the normalization of world commodity prices, according to the press release. ■