The Monetary Board of the Central Bank of Sri Lanka have decided to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate of the Central Bank by 50 basis points to 7.00 per cent and 8.00 per cent, respectively, stated the CBSL. The decision was taken following a careful analysis of current and expected developments in the domestic economy and the financial market as well as the global economy, The decision was taken aiming to further support the revival of economic activity in the context of low inflation prevailing at present and the medium term inflation outlook, which is well anchored in the desired 4-6 per cent range. Source- Daily News Sri Lanka