Central Bank of Sri Lanka

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Central Bank of Sri Lanka implements Extraordinary Regulatory Measures to facilitate Banks to support COVID-19 affected Businesses and Individuals

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to introduce several extraordinary regulatory measures to provide flexibility to Licensed Commercial Banks and Licensed Specialised Banks to provide some relief to businesses and individuals affected by the COVID-19 crisis. In deciding these measures, the Monetary Board took note of the overall resilience of the banking sector especially due to the already built-up capital buffers, the current and future liquidity levels, potential upsurge in the rising trend in non-performing loans due to the inability of majority of borrowers to service their loans as usual and extraordinary disruptions to the functioning of the economy.

NCPI based Inflation increased in February 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1increased to 8.1 per cent in February 2020 from 7.6 per cent in January 2020. This was driven by statistical effect of the low base prevailed in February 2019. Further, Food inflation (Y-o-Y) stood at 16.3 per cent in February 2020 while Non-food inflation (Y-o-Y) recorded at 2.1 per cent.

Operations of Banks on 23rd March 2020

Central Bank of Sri Lanka (CBSL) has requested all Licensed Commercial Banks and Licensed Specialised Banks to keep their branches open at least for two (2) hours on the 23rd March 2020 in the areas where police curfew is lifted to provide urgent banking services to the general public.

The Central Bank of Sri Lanka Introduces Urgent Measures to Ease the Pressure on the Exchange Rate and Prevent Financial Market Panic due to the COVID-19 Pandemic

As per the provisions of the Monetary Law Act No. 58 of 1949, the Banking Act No. 30 of 1988, and the Foreign Exchange Act No. 12 of 2017, the Central Bank of Sri Lanka introduced several measures to ease the pressure on the exchange rate and prevent financial market panic due to the COVID-19 pandemic.

Sri Lanka Purchasing Managers’ Index - February 2020

Manufacturing PMI increased at a slower rate in February 2020 recording an index value of 53.6 mainly due to the slower expansion in New Orders and Employment, while expectations for next three months decreased significantly due to COVID-19 outbreak.

Services sector expansion slowed down in February 2020, compared to January 2020, underpinned by the slower expansion observed in New Businesses, Business Activity and Expectations for Activity due to the impact of COVID-19 outbreak.

Measures Adopted by Central Bank of Sri Lanka during the Public Holiday Period Announced by the Government

The Central Bank of Sri Lanka (CBSL) wishes to inform that the following measures have been adopted by CBSL during the public holiday period announced by the Government.

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