Sri Lanka holds despite record-high inflation

- Central Banking staff
- 20 Jun 2008

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The Central Bank of Sri Lanka left rates unchanged at 10.5% for the fourth-straight month on Friday to support growth in spite of rampant inflation.

The new Colombo Consumers' Price Index climbed to 26.2% in the year to May, up from 25% the previous month. The measure is at its highest level since it was introduced in December 2007 and is far above the 11% upper limit of the central bank's target range.

However, the institution said that though inflation would rise for the year to June, it was

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