CBSL keeps overnight policy rate unchanged

The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to keep the Overnight Policy Rate (OPR) unchanged at 8.00%, following its meeting on 28th of January.

This decision aims to ensure inflation stabilizes at the 5% target in the medium term while supporting economic growth.

The Board noted that the current deflationary trend is largely due to administrative energy price reductions and is expected to continue for a few months before inflation adjusts towards the target in the second half of 2025.

Headline inflation, measured by the year-on-year change in the Colombo Consumer Price Index (CCPI), remained negative for the fourth consecutive month in December 2024.

The CBSL attributed this to previous cuts in electricity tariffs and fuel prices, along with weak demand pressures.

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