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At its meeting on 26 September 2024, the Monetary Policy Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 8.25% and 9.25%, respectively.
This decision was made after a careful assessment of recent and expected macroeconomic developments, as well as potential risks and uncertainties both domestically and globally. The Board aims to ensure inflation aligns with the medium-term target of 5%, while supporting the economy in achieving its maximum potential.
The Board noted that inflation is expected to remain well below the 5% target in the coming quarters, with the possibility of deflation in the near term, driven by adjustments to administratively determined prices and improved supply conditions.