Interest Rate in Sri Lanka
Sri Lanka - Interest Rate
The economy should have recovered somewhat in Q3 after it likely contracted at the height of the pandemic in Q2. Industrial production declined at a much softer rate in July–August relative to Q2. Moreover, the services and manufacturing PMIs were markedly higher in Q3 than in the prior quarter, hinting at strengthening private sector activity. In addition, remittances improved significantly in the same period, boding well for private consumption. Turning to Q4, the economy is facing rising headwinds stemming from fresh restrictions imposed in October following a surge in Covid-19 cases. In other news, the government will present the 2021 budget to parliament on 17 November. According to the appropriation bill published ahead of the budget, next year should see expenditure of LKR 2.7 trillion—USD 14.5 billion or 17% of GDP—above the LKR 2.5 trillion expected spending for 2020. The biggest share will be directed at defense, highways and local government.Sri Lanka - Interest Rate Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 7.50 | 8.50 | 8.75 | 9.00 | 8.00 |
Sri Lanka Interest Rate Chart
Source: Central Bank of Sri Lanka (CBS)
Sri Lanka Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 181.2 | 0.02 % | Jan 01 |
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