Sri Lanka cenbank leaves interest rates unchanged

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MUMBAI: The Sri Lankan central bank held its interest rates on Thursday after raising them in August, but said it would take the necessary steps to contain inflationary pressures while supporting the economic recovery.

The Central Bank of Sri Lanka (CBSL) left the permanent deposit facility rate and the permanent lending facility rate unchanged at 5.00% and 6.00%, respectively.

Both rates were raised by 50 basis points each in August to dampen inflationary pressures.

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“The Central Bank will continue to monitor domestic and global macroeconomic and financial developments,” CBSL said in its statement.

“And stand ready to take appropriate action, if necessary, with the aim of keeping inflation within the desired range as part of flexible inflation targeting over the medium term, while supporting and sustaining the economic recovery. “.

He also left the reserve requirement ratio unchanged at 4 percent after raising it by 200 basis points in his last policy in August.

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(Reporting by Swati Bhat; editing by Shri Navaratnam)

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