Central Bank of Sri Lanka Keeps Stance Unchanged

September 17, 2013

The reverse repo and repo rates were left respectively at 9.0% and 7.0% where they’ve been since reductions of 25 basis points last December followed by cuts of 50 bps in May 2013.  A statement from bank officials again called the present stance appropriate and welcomed signs that lower short-term interest rates are spreading more widely to longer-term lending rates.  Officials called the external sector “stable” and Sri Lanka’s inflation outlook “favorable.”  Faster economic growth was achieved in the second quarter than the first quarter, making the 2013 target of 7.5% look more attainable.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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