The Central Bank of Sri Lanka released the Monetary Policy Report - February 2024 today (15.02.2024) in keeping with the requirements of the Central Bank of Sri Lanka Act, No. 16 of 2023. The content of this Report is mainly based on information that was considered by the Monetary Policy Board of the Central Bank of Sri Lanka in formulating the monetary policy decision during the January 2024 review.

This is the second Monetary Policy Report published by the Central Bank to provide forward-looking insights about the economy, particularly in terms of inflation and economic growth. The Report also aims to provide an assessment of risks to the projections on inflation and economic growth, considering the ongoing and expected developments of domestic and global fronts. Through this report, the Central Bank strives to improve its transparency and accountability by communicating the rationale for the recent monetary policy decisions of the Central Bank.

In terms of the provisions of the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023, the Governing Board (GB) of the CBSL has been established as the body responsible for overseeing the administration and management of the affairs of the CBSL and determination of the general policies of the CBSL.

Governing Board

The GB comprises the Governor of the CBSL, Dr. P Nandalal Weerasinghe, who serves as the Chairman of the GB, Mr. A N Fonseka (Appointed Member of the Monetary Board of the CBSL since 27.07.2022 who continued to serve as a Member of the GB), Dr. Ravi Ratnayake (appointed on 21.09.2023), Mr. Anushka S Wijesinha (appointed on 21.09.2023) and Mr. Vish Govindasamy (appointed on 26.10.2023).

Further, we hereby announce the appointments of Mr. Rajeev Amarasuriya and Mr. Manil Jayesinghe to the GB. The profiles of the newly appointed members are as follows: