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Sri Lanka central bank keeps policy rates unchanged

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Sri Lanka central bank keeps policy rates unchanged

The CentralBank of Sri Lanka decided to maintain the standing deposit facility rate and thestanding lending facility rate at 6.50% and 8%, respectively.

The statutory reserve ratio was also kept at 7.50%,according to an April 26 statement.

The central bank decided to hold the rates given that it hasalready adopted measures to tighten monetary policy by raising the statutoryreserve ratio and policy interest rates and that the impact of these measuresis yet to be fully revealed in monetary conditions.

The consumer price index-based core inflation fell to 4.5%in March from 5.7% in February. Headline inflation slid to 2% in March from2.7% in the previous month, reflecting the decline in food inflation, thecentral bank said.