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Launching of the First-ever National Financial Inclusion Strategy of Sri Lanka

It is with great pleasure that the Central Bank of Sri Lanka announces the launch of the first-ever National Financial Inclusion Strategy (NFIS) of Sri Lanka on March 4, 2021. The launch was symbolized by presenting the NFIS strategy to Hon. Mahinda Rajapaksa, Prime Minister of Sri Lanka and Minister of Finance by Deshamanya Professor W D Lakshman, Governor of the Central Bank. The launch was graced by the presence of Hon. Ajith Nivard Cabral, State Minister of Money & Capital Market and State Enterprise Reforms, His Excellency David Holly, Australian High Commissioner to Sri Lanka and Maldives, and Ms. Amena Arif, International Finance Corporation (IFC) Country Head for Sri Lanka and Maldives.

The Central Bank of Sri Lanka Reaffirms its Commitment to Continue the Current Accommodative Monetary Policy Stance

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 03 March 2021, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 per cent and 5.50 per cent, respectively. The Board arrived at this decision after carefully considering the macroeconomic conditions and expected developments on the domestic and global fronts. The Board noted the recent slowdown in credit disbursements to the private sector and inadequate lending to productive sectors of the economy, and stressed the need for the financial system to actively lend to productive sectors in order to support the ongoing recovery of domestic production-based economic activity. Further, the Board observed the recent uptick in certain market interest rates, and reemphasised its commitment to continue the low interest rate structure until the economy shows signs of sustained revival, in the context of the low inflation environment.

Land Valuation Indicator - Second Half of 2020

Land Valuation Indicator (LVI) for Colombo District increased by 4.6 per cent on year-on-year basis to 145.2 during the second half of 2020. However, the percentage level of increase of LVI was in line with the declining trend observed over the recent periods. In addition, the LVI recorded an increase of 2.5 per cent for the second half of 2020 compared to the first half of 2020.

CCPI based Inflation increased to 3.3 per cent in February 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased to 3.3 per cent in February 2021 from 3.0 per cent in January 2021. This was driven by monthly increase of prices of items in both Food and Non-food categories. Meanwhile, Food inflation (Y-o-Y) increased to 7.9 per cent in February 2021 from 6.8 per cent in January 2021. However, Non-food inflation (Y-o-Y) decreased marginally to 1.3 per cent in February 2021 from 1.4 per cent in January 2021.