News Karnataka
Sunday, December 04 2022
Asia

Colombo: Sri Lanka keeps interest rates unchanged

Sri Lanka keeps interest rates unchanged
Photo Credit : IANS
Colombo: Sri Lanka’s central bank decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 14.50 per cent and 15.50 per cent, respectively.

The central bank announced on Thursday that it arrived at this decision after considering the latest macroeconomic conditions, expected developments, and macroeconomic projections, Xinhua news agency reported.

It said it noted the present tight monetary conditions, the reducing pace of inflation, and both domestic and global factors have helped the country stabilise.

The current fiscal policies are complementing the monetary policy and are helping to mitigate any build-up of aggregate demand pressures, it said.

The central bank expects the country’s headline inflation to drop to 4 to 6 percent over the medium term.

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