Sri Lanka, Oct. 1 -- Sri Lanka will maintain its inflation target at 5%, with a two-percentage-point band on either side, for the next three years, Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe said yesterday. The Government has agreed to the CBSL's recommendation.

Addressing a media briefing following the latest monetary policy decision, Dr. Weerasinghe said the Government would formally announce the decision through a Gazette Notification shortly. The existing target was agreed with the Finance Minister under the Monetary Policy Framework Agreement in October 2023. The framework, established under the Central Bank of Sri Lanka Act of 2023, requires the target to be reviewed once every three years.

Dr. Weerasinghe ...