The Central Bank has called on all commercial banks to strictly observe the newly reduced credit interest rates. A Bank press release said that every Licensed Commercial Bank (LCB) is required “to reduce their weekly Average Weighted Prime Lending Rate (AWPR)1 by at least 250 basis points by December 27, 2019, compared to their AWPR published by the Central Bank of Sri Lanka as at April 26, 2019 in the Weekly Economic Indicators publication”. Commercial banks face possible action if they do not comply with the Central Bank’s latest credit rate requirement.