"We had to ensure that the policy measures that we have put in place now are not reversed too quickly and there’s no need to reverse it as well because the inflation outlook also seems to be benign,†he said.
"In those conditions I see that we could be more toward the relaxation side without having to pull back in the foreseeable future.
"The chances are that what we have needed to do we have done.
We think that the steps that we have taken should take us at least until September."
Sri Lanka's rupee has weakened over June and has dropped further in July after liquidity flooded money markets from a reserve ratio cut.
A depreciating currency can add to inflation, though external conditions are also favourble with the Fed expected to pull back from its quantity easing program.
Cabraal said he was comfortable with the inflation outlook.