Sunday, 16 June 2019

Sri Lanka central bank suprises, keeps key rates steady


COLOMBO: Sri Lanka’s central bank surprised the market on Tuesday by leaving its key policy rates unchanged, despite heavy pressure on the rupee currency and foreign outflows from government securities.

The central bank kept the standing lending facility rate (SLFR) at 8.50 percent and standing deposit facility rate (SDFR) at 7.25 percent.

The market had expected rate hikes for both.

Sri Lanka’s key rates have been unchanged since April, when there was a surprise cut.

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