Sri Lanka cuts interest rates by 25bp
Decision follows improved economic figures but stubbornly low inflation
The Central Bank of Sri Lanka (CBSL) has cut its key policy rates by 25 basis points as inflation remains significantly below the target rate of 5%.
The CBSL announced today (24 July) that it was cutting its standing deposit facility rate (SDFR) from 8.5% to 8.25% and its standing lending facility rate (SLFR) from 9.5% to 9.25%.
Year-on-year inflation rose from 0.9% in May to 1.7% in June, far below the bank’s target level. Core inflation rose from 3.5% to 4.4% over the same period.
The CBSL said
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