State Minister of Finance Ranjith Siyambalapitiya announced today that the interest rates at commercial banks are expected to be reduced by around 2.5%.
State Minister Siyambalapitiya said that the reduction is expected following the Central Bank of Sri Lanka relaxing policy rates this morning.
The Central Bank reduced the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 250 basis points to 13.00 percent and 14.00 percent, respectively.
