Reported 4 months ago
Sri Lanka's central bank opted to maintain its benchmark interest rates, keeping the standing lending facility rate at 9.50% and the deposit facility rate at 8.5%, despite a slight uptick in inflation in April. The bank cited an accommodative monetary policy stance and the need for further declines in market lending rates to support the economy, which is projected to grow by 3% in 2024. The decision comes as the country continues negotiations with investors to restructure defaulted global bonds to sustain financing under an IMF bailout program.
Source: YAHOO