COLOMBO : Sri Lanka's central bank caught markets off-guard by cutting its key rates by 250 basis points on Thursday, as it cited inflation easing faster than expected and the price outlook turning more benign.The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility rate and standing lending
COLOMBO : Sri Lanka's central bank caught markets off-guard by cutting its key rates by 250 basis points on Thursday, as it cited inflation easing faster than expected and the price outlook turning more benign.
"Policy interest rates reduced in view of the faster deceleration of inflation, benign inflation outlook and the easing of BOP pressures, thereby reinforcing the rebound of the economy," the CBSL said. The index peaked at a 69.8 per cent year-on-year surge in September last year. The national inflation rate was at 33.6 per cent inThe IMF has set Sri Lanka a inflation target of 15.2 per cent for this year but the CBSL is eyeing a more ambitious target of single digit inflation by September.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sri Lanka cenbank unexpectedly cuts rates by 250 bps on improving inflation outlookCOLOMBO : Sri Lanka's central bank caught markets off-guard by cutting its key rates by 250 basis points on Thursday as inflation slowed at a faster-than-expected pace and the price outlook turned more benign.The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility rate and standing lending
Read more »
Sri Lanka central bank to hold rates as inflation stays highCOLOMBO : Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The island nation defaulted on its foreign debt for the first time in April last year, as the worst financial crisis sin
Read more »
Ex-chief priest of Sri Mariamman Temple jailed for pawning over S$2 million worth of temple jewelleryThe crimes went undetected for almost five years as Kandasamy Senapathi would return the jewellery before scheduled audits.
Read more »
Oil falls as weak China data offsets US debt ceiling progress:Oil prices extended losses early on Wednesday as worries of slowing demand from top oil importer China after the release of weaker-than-expected economic data outweighed some positive progress on the U.S. debt ceiling bill. Brent crude futures for August delivery fell 28 cents to $73.43 a barrel by 0250 GMT,
Read more »
BOJ's Ueda says era of low global interest rates may be overTOKYO : Global central banks may already be facing a new economic environment where inflation and interest rates will no longer revert to the low levels of the past, Bank of Japan (BOJ) Governor Kazuo Ueda said on Wednesday.While supply factors have been blamed for the current increase in global inflation
Read more »
Fixed rates for home loans are down and likely to fall further, experts sayAlthough fixed rates for home loans are more attractive now, analysts say home owners should consider interest rate movements ahead before deciding on a mortgage package.
Read more »