By Uditha Jayasinghe COLOMBO (Reuters) - Sri Lanka's central bank is expected to resume interest rate cuts on Thursday as it attempts to bolster a ...
Sidney Crosby and Pittsburgh Penguins in Cole Harbour | SaltWireCOLOMBO - Sri Lanka's central bank is expected to resume interest rate cuts on Thursday as it attempts to bolster a recovery from its worst economic crisis in decades, capitalising on low inflation to complete the first review of a $2.9 billion IMF bailout package.
"Definitely over the next six months we expect rates to be cut by 200 bps points: This time 100 bps with the next 100 bps coming in the next quarter." The economy is expected to shrink 2% this year according to the CBSL's projections, after contracting 7.8% in 2022.
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