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Monetary Policy Review - No. 2 of 2019

The Monetary Board of the Central Bank, at its meeting held today, 08 April 2019, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 per cent and 9.00 per cent, respectively. The Board arrived at this decision following a careful analysis of current and expected developments in the domestic economy, the financial market as well as the developments in the global economy, with the broad aim of stabilising inflation at mid single digit levels in the medium term to enable the economy to reach its potential.

Opening of a Counter to Issue Coins to the General Public

The Central Bank of Sri Lanka will open a Counter at the ground floor of the Central Bank Head Office Building, No.30, Janadhipathi Mawatha, Colombo 01 on 27 March 2019, to issue coins to the general public.

This counter will be opened for the public from 9.00 a.m. to 11.00 a.m. on every Wednesday and Thursday, except public and bank holidays.

Inflation Increased in February 2019

Headline inflation as measured by the year-on- year change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 2.4 per cent in February 2019 from 1.2 per cent in January 2019 mainly due to the base effect. Meanwhile, year-on-year Non-food inflation increased to 6.7 per cent in February 2019 from 6.5 per cent in January 2019 while Food inflation also increased to -2.9 per cent in February 2019 from -4.8 per cent in January 2019.

Issuances of International Sovereign Bonds (ISB) by the Central Bank of Sri Lanka

With reference to the recent paper articles on the governance process and issuing yields relating to the 5-year and 10-year International Sovereign Bonds (ISBs) issued by the Central Bank of Sri Lanka (CBSL) on behalf of the Government of Sri Lanka (GOSL), the CBSL wishes to make the following clarifications: