CB reduces rates by 25 basis points

Friday, 3 April 2020 18:34 - - {{hitsCtrl.values.hits}}

The Central Bank today decided to reduce rates even further by an additional 25 basis points, the monetary authority said in a statement.

Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) will be reduced by 25 basis points to 6% and 7%, respectively, effective from the close of business on 3 April.

This decision will complement the measures taken thus far to ease market conditions, and enable the domestic financial market to provide further relief to businesses and individuals affected by the outbreak of the COVID-19 pandemic and restrictions placed to contain its spread within the country, the statement added.