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Special Monetary Policy Board Convenes: No Immediate Interest Rate Decision Expected

The Central Bank of Sri Lanka (CBSL) has called for a Special Monetary Policy Board Meeting to take place later yesterday, February 07. The CBSL clarified in a statement that the meeting is not anticipated to result in an immediate policy interest rate decision.

The Monetary Policy Board (MPB) of the Central Bank is tasked with formulating the monetary policy and implementing a flexible exchange rate regime aligned with the flexible inflation targeting framework. The primary goal is to achieve and sustain domestic price stability. The MPB holds the responsibility of regulating the supply, availability, and cost of money, considering the macroeconomic and financial conditions of Sri Lanka.

Comprising the Governor of the Central Bank as the Chairperson, members of the GB, two experts in Economics or Finance, the Deputy Governor in charge of price stability, and the Deputy Governor overseeing financial system stability, the MPB plays a crucial role in shaping the country’s economic policies. The Secretary to the MPB, nominated by the Governor of the Central Bank, is an employee of the institution.

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