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Sri Lanka maintains policy rates

Central Bank releasing the monetary policy review on Tuesday said it has decided to maintain current policy interest rates as the current monetary policy stance is appropriate.

Accordingly, the Monetary Board has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank unchanged at 7.25 percent and 8.75 percent, respectively while the Statutory Reserve Ratio remains at 7.50 percent.

Releasing the policy stance, the Central Bank said the economy Sri Lanka’s economy expanded at the moderate pace of 4.0 percent, year-on-year, in the second quarter of 2017, in comparison to 3.8 per cent year-on-year growth in the first quarter of 2017.

“Economic growth continued to be affected by extreme weather conditions and weak external demand,” the Central Bank said.

Both Colombo inflation and national inflation increased in August 2017, 7, reflecting the base effect of tax revisions as well as higher prices of food items.

 

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