No Changes Made This Month in Sri Lankan Policy Interest Rates

October 13, 2009

The Central Bank of Sri Lanka has interrupted the easing of its benchmark repo rate with more pauses in 2009 than the typical central bank.  The rate was reduced by 50 basis points to 8.0% last month but not changed today after the October meeting.  No change was instituted either in March, July or August.  Cuts occurred of 125 bps in April, and 25 bps each in February and March.  A statement from monetary officials observed receding inflation and said that prior cuts by the central bank are still exerting downward pressure on market rates.

Copyright Larry Greenberg 2009.  All rights reserved.  No secondary distribution without express permission.


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