Sri Lanka central bank unexpectedly raises policy rate by 50 bps

July 28, 2016 12:47 PM

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COLOMBO, July 28 Sri Lanka's central bank raised its key monetary policy rates by 50 basis points on Thursday in a surprise move to curb stubbornly high credit growth that is adding to worries about inflationary pressures.

The Central Bank of Sri Lanka raised the standing deposit facility (SDF) rate and the standing lending facility rate (SLFR) to 7.00 percent and 8.50 percent, respectively. It has tightened the policy twice since December. (bit.ly/2asWqdT)

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