The Central Bank of Sri Lanka (CBSL) has decided to maintain the Overnight Policy Rate (OPR) at 8.75% following the latest meeting of its Monetary Policy Board held yesterday (21).
In a statement, the CBSL said the decision was taken after carefully assessing evolving domestic and global economic conditions and the outlook for inflation and economic activity.
The Central Bank noted that renewed tensions in the Middle East have led to a sharp increase in global commodity prices, particularly petroleum, creating additional uncertainty for the global economy.
According to the CBSL, these developments are expected to weigh on global economic prospects and could have spillover effects on Sri Lanka through multiple channels, including higher import costs and external sector pressures.
The Central Bank said it will continue to closely monitor domestic and international economic developments and take appropriate policy measures to maintain price stability and support macroeconomic stability.
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