Cenbank raises policy rates

central bankSri Lanka’s central bank unexpectedly raised its key policy interest rates by 50 basis points (bps) on Friday, saying “certain risks to macroeconomic stability continue.”

The Central Bank of Sri Lanka raised the standing deposit facility (SDF) rate to 6.50 percent and the standing lending facility rate (SLFR) to 8 percent.

Nine out of 14 economists surveyed in a Reuters poll had predicted the bank would keep the SDFR and the SLFR steady.

The commercial banks’ statutory reserve ratio, which was raised 150 bps with effect from Jan. 16, was left unchanged at 7.50 percent. (Reuters)

 

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