Sri Lanka cuts rates as economy feels effects of Easter attacks

colombo-sri-lanka
Colombo, Sri Lanka

The Central Bank of Sri Lanka has cut its main interest rates, fearing a mix of global instability and the impact of the Easter Sunday terrorist attacks will hamper the economy this year.

The CBSL’s monetary board chose to reduce its two main rates by 50 basis points each, bringing the deposit facility to 7.5% and the lending rate to 8.5%.

After a slowdown in the latter quarters of 2018, with growth slipping from 3.5% in Q3 to 1.8% in Q4, the central bank said the first quarter of 2019 looked

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