Sri Lankan central bank holds rates despite rising inflation

Central Bank of Sri Lanka headquarters
Photo: Amithasundar

Sri Lanka’s monetary policy board held rates at its meeting on November 24, despite a rise in the official inflation figures.

The board kept the standing deposit facility rate at 5% and the standing lending facility rate at 6%. The central bank issued a short statement, lacking in detail, saying the board had “noted the recent acceleration of inflation, driven mainly by supply disruptions and the surge in global commodity prices”.

It said the board “reiterated its commitment to maintaining

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