The Monthly Monetary Policy Review of the Central Bank of Sri Lanka is due to be announced at 7.30 am today.
The CBSL Monetary Board met for the first time on the 8th of April under the patronage of CBSL Governor Dr. Nandalal Weerasinghe after he assumed duties in the new role.
The CBSL doubled its key interest rates at the time, raising each by an unprecedented 700 basis points to tame inflation.
The Monetary Board raised its standing lending facility to 14.50% and standing deposit facility to 13.50%.
This was the largest increase in policy interest rates at any given time in the country’s history.