
Sri Lankan central bank threatens regulatory action to bring down rates

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.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com