COLOMBO, July 11: Sri Lanka’s central bank kept policy rates unchanged on Wednesday, as expected, saying a spike in inflation was due to a lower base and that the impact of drought conditions and earlier policy measures have been yielding desired results.
‘After reviewing the progress of the developments under the monetary policy measures that have already been taken, the Monetary Board of the Central Bank…Decided to maintain the Repurchase rate and the Reverse Repurchase rate unchanged at 7.75 per cent and 9.75 percent, respectively,’ the central bank said in a statement.
The market had expected both to remain flat. (AGENCIES)
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