“Positive sentiments fuelled by the COVID-19 vaccination drive in the country and the impact of growth-promoting policies are expected to support the economic revival over the short to medium term,” the CBSL said in a statement.
Meanwhile, the CBSL said that the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) would remain at 4.5 percent and 5.5 percent respectively, following a review by the Monetary Board.
“The Board noted the recent slowdown in credit disbursements to the private sector and inadequate lending to productive sectors of the economy, and stressed the need for the financial system to actively lend to productive sectors in order to support the ongoing recovery of domestic production-based economic activity,” a statement by the CBSL said.
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