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Sri Lanka central bank keeps key rates unchanged amid debt crisis

The Standing Lending Facility rate remained unchanged at 14.50% while the Standing Deposit Facility Rate was steady at 13.50%.

Central Bank of Sri Lanka
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Central Bank of Sri Lanka

Reuters Colombo
Sri Lanka's central bank held its key lending and borrowing rates steady on Thursday following a massive 700 basis points increase at its previous meeting and reiterated the need for more fiscal measures and political stability in the crisis-hit economy.

The Standing Lending Facility rate remained unchanged at 14.50% while the Standing Deposit Facility Rate was steady at 13.50%.

"It is envisaged that the recent tightening of monetary conditions and the strengthening of monetary policy communication will help anchor inflation expectations of the public in the period ahead," the bank said in a statement.

The central bank said inflation will

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 19 2022 | 9:54 AM IST

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