Friday, October 22, 2021
News

SL central bank to keep policy rates steady

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Colombo | Thursday, 2021 8:15:06 PM IST
The Central Bank of Sri Lanka (CBSL) announced on Thursday that it would keep policy rates at their current levels while maintaining inflation at targeted levels and supporting economic recovery.

In its seventh monetary policy review for the year, the CBSL announced that the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) would remain at 5 per cent and 6 per cent, respectively, until the next review on November 25, reports Xinhua news agency.

The CBSL said that inflation had accelerated in recent months, partly due to surging global commodity prices which would cause headline inflation to deviate from the targeted range in the near term.

"While such supply-side developments in the near term do not warrant monetary policy tightening, measures already taken by the Central Bank in relation to interest rates and market liquidity would help stabilise demand pressures over the medium term," the CBSL said.

The CBSL added the country recorded real growth of 4.3 per cent and 12.3 per cent in the first and second quarters of 2021 respectively.

"Available indicators and projections suggest that the real economy would grow by around 5 per cent in 2021, and gradually traverse to a high and sustained growth trajectory over the medium term, following near-term stabilization measures that are being put in place by the government and the central bank," the CBSL said.

The CBSL noted that export revenue has crossed $1 billion for three consecutive months, with additional inflows from tourism expected in the coming months.

Sri Lanka's foreign reserves stood at $2.6 billion at the end of September.

--IANS ksk/

( 279 Words)

2021-10-14-14:26:02 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Bull Trends: Mondays, Thursdays seen as ...
Asian cues, mixed results subdue equity ...
Economic recovery widened in Q2FY22 as C...
Acuite retains India's FY22 growth forec...
Global cues, inflationary concerns dent ...
The Postcard Hotel wins multiple honours...
More...
 
INDIA WORLD ASIA
350 fake voter cards, two dummy EVMs sei...
Seizing bikes, internet shutdown not lin...
Malik attacks Wankhede over foreign trip...
J&K: Municipal committee official arrest...
UN India lauds 100 crore vax feat...
8.5 lakh CCTV cameras installed in Telan...
More...    
 
 Top Stories
Malaysia reports 6,210 new COVID-19... 
T20 WC: Not the end, will come back... 
Georgia's Covid-19 cases top 680,00... 
Biden pledges to defend Taiwan if C... 
T20 WC: No reason to fear in Super ... 
Mizoram reports 737 new COVID-19 ca... 
Ad featuring actor Aamir Khan creat... 
1 killed, several injured in factor...