The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) announced its decision to keep the Standing Deposit Facility Rate (SDFR) at 8.25% and the Standing Lending Facility Rate (SLFR) at 9.25%, following its meeting on September 26, 2024.

The decision comes after a thorough assessment of recent macroeconomic developments and potential risks, both domestically and globally. The Board aims to ensure inflation aligns with the medium-term target of 5%, while also promoting the economy's maximum potential.

Officials said that inflation is expected to remain below the 5% target in the coming quarters, with the possibility of deflation in the near term, attributed to changes in administratively determined prices and improved supply conditions.