Central Bank of Sri Lanka Leaves Policy Steady After Monthly Review

February 8, 2011

The repo rate had been cut by 50 basis points in November and 25 bps each in December and January but was left unchanged this month at 7.0%.  200 bps of cuts were implemented in the first half of 2010.  No rate changes occurred between February 2007 and February 2010.  Central bank officials also left there reverse repo rate steady at 8.5% after today’s meeting.  A statement released by the Central Bank of Sri Lanka spoke of rising global commodity prices.  CPI inflation is hovering marginally below the repo rate level, and money growth is as expected.  The next meeting of policymakers is set for March 8.

Copyright Larry Greenberg 2011.  All rights reserved.  No secondary distribution without express permission.

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