Sri Lanka shocks with rate hold
Sri Lanka's central bank on Tuesday kept its key policy rates unchanged for the second month in a row, saying its earlier easing had not yet translated into lower market lending rates.
The decision surprised markets that had priced in a cut. However, the Colombo-based central bank kept the reverse repurchase rate at 11% and the repurchase rate at 8.5%.
"Market interest rates continue to decline in response to the monetary policy measures taken by the central bank, but they are yet to adjust
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