News Karnataka
Sunday, December 04 2022
Asia

Colombo: SL central bank maintains interest rates at current level

SL central bank maintains interest rates at current level
Photo Credit : IANS

Colombo: The Central Bank of Sri Lanka on Thursday’s announced its to maintain the Standing Deposit Facility Rate and Standing Lending Facility Rate at the current level of 14.50 per cent and 15.50 per cent, respectively.

Its Monetary Board made the decision after considering recent and expected developments related to both the domestic and global economy as well as macroeconomic projections, Xinhua news agency quoted the bank as saying in a statement.

The board noted that sticking to a tight monetary policy stance is necessary to contain any demand-driven inflationary pressures on the economy.

This will help the Southeast Asian country lower inflation towards the targeted range of 4-6 per cent over the medium term, according to the bank.

Supported by favourable supply-side developments and tight monetary policy measures, inflation dipped in October after passing the peak in September, the bank said.

Inflation will continue to decline in the coming months largely due to a drop in demand, expected improvements in domestic supply, and normalization of global commodity prices, according to the statement.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp