Jul
23

Sri Lanka Holds Interest Rates Before Parliamentary Election

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The Central Bank of Sri Lanka kept its interest rates unchanged and said near-record-low inflation is likely to continue for the next few months as the country prepares for its parliamentary elections due Aug. 17.

Governor Arjuna Mahendran left the standing lending facility rate at 7.5 percent and standing deposit facility rate at 6 percent, as predicted by all five economists in a Bloomberg survey. He had cut both rates by 50 basis points in April.

“We are obviously driven by political events at the moment,” Mahendran said in an interview with Bloomberg TV on Friday. Expectations of a “new, fairly stable government” could boost foreign investment, he said…

Sri Lanka Holds Interest Rates Before Parliamentary Election

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