Sri Lanka keeps interest rates flat

Country introduces new governance reforms to state-owned banks

Sri Lanka Central Bank HQ building
The Central Bank of Sri Lanka

Sri Lanka held its benchmark interest rate flat on May 28, after inflation edged up in April and the country recovers from an economic crisis.

The Central Bank of Sri Lanka (CBSL) maintained its standing deposit facility rate at 8.5% and the standing lending facility rate at 9.5%.

The country’s inflation increased to 1.5% in April, from 0.9% in March, though both figures were well below the 6.4% recorded in January.

The central bank aims to bring inflation to 5% over the medium term. It said that

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