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2023-01-25 02:13:44

Sri Lanka holds rates steady to rein in inflation, as expected

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Channel NewsAsia
By Cna

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COLOMBO : Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is critical to reining in inflationary pressures.

The Central Bank of Sri Lanka had increased rates by a massive 950 basis points between August 2021 to July 2022 to tame stubbornly high inflation.

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