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Sri Lanka c.bank keeps rates steady


Sri Lanka’s central bank kept its benchmark interest rates steady on Tuesday for a sixth straight month, saying growth of monetary and credit aggregates is expected to moderate in 2017.

The Central Bank of Sri Lanka left the standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) at 7.00 percent and 8.50 percent, respectively. (bit.ly/2jWnzgb)

It has tightened monetary policy three times since December, 2015.

A Reuters poll last week showed economists were split on their views. Seven out of 13 economists surveyed predicted the central bank would keep both its SDFR and SLFR unchanged.

However, three economists expected a 50-basis-point hike in both policy rates while the rest tipped a 25-basis-point hike.