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External Sector Performance – February 2025

The external sector of the Sri Lankan economy continued to strengthen in February 2025, with a considerably higher current account surplus compared to the preceding month.

CCPI in March 2025 signals easing of deflationary conditions

In line with the Central Bank’s near term projections, deflationary conditions commenced easing in March 2025. Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 remained in the negative territory for the seventh consecutive month, yet recorded a slower deflation of 2.6% in March 2025 compared to the deflation of 4.2% recorded in February 2025.

Sri Lanka PMI - Construction expands further in February 2025

Sri Lanka Purchasing Managers’ Index for Construction (PMI - Construction), as reflected by the Total Activity Index, expanded further to 55.6 in February 2025. Most of the respondents reported a continuous increase in construction work during the month, yet emphasised the need for more large-scale projects to sustain the growth.

Administrative Penalties imposed by the Financial Intelligence Unit (FIU) on Reporting Institutions from November to December 2024

By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed by taking into consideration the nature and gravity of relevant non-compliance of the Institutions.

Relief Measures to Assist the Affected Small and Medium Enterprises

As agreed with the Sri Lanka Banks’ Association (Guarantee) Ltd. (SLBA), to provide relief measures to affected SMEs by licensed commercial banks and licensed specialised banks, Circular No. 04 of 2024 dated 19.12.2024, and its addendum, Circular No. 01 of 2025 dated 01.01.2025 were issued by the Central Bank of Sri Lanka to ensure the effective implementation of the relief measures specified in the cited Circulars in a consistent manner across all licensed banks.

The Central Bank of Sri Lanka keeps the Overnight Policy Rate (OPR) unchanged

The Monetary Policy Board decided to keep the Overnight Policy Rate (OPR) at 8.00% at its meeting held yesterday. The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board remains confident that the prevailing monetary policy stance will ensure that inflation will move towards the target of 5% while supporting the growth of the domestic economy.

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