Central Bank further reduces policy interest rates by 25 basis points

Apr 03, 2020 (LBO) – The Monetary Board of the Central Bank today decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 25 basis points to 6.00 percent and 7.00 percent, respectively, effective from the close of business on 03 April 2020.

The Central Bank said this decision will complement the measures taken thus far to ease market conditions and enable the domestic financial market to provide further relief to businesses and individuals affected by the outbreak of the COVID-19 pandemic and restrictions placed to contain its spread within the country.

There will be no monetary policy announcement on 09 April 2020 as scheduled. However, the Monetary Board said they may review the monetary policy stance of the Central Bank and make necessary changes as and when required in consideration of economic and market developments.