Sri Lanka central bank keeps policy rates steady to tame inflation

COLOMBO -Sri Lanka's central bank kept interest rates steady on Tuesday, in line with market expectations, forgoing a rate cut as a new tax threatened upward pressure on expenses and fueled concerns about inflation. The Central Bank of Sri Lanka (CBSL) maintained the Standing Deposit Facility Rate at 9 percent and the Standing Lending Facility Rate at 10 percent, as predicted in a Reuters poll. The central bank said the decision was aimed at maintaining inflation at the targeted level of 5 percent over the medium term, while enabling the economy to reach its potential. "The Board took note of the effects of the recent developments in taxation and supply-side factors that are...Keep on reading: Sri Lanka central bank keeps policy rates steady to tame inflation

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