Sri Lanka cuts rates
The Central Bank of Sri Lanka on Wednesday said it had cut its benchmark repurchase rate by half a point to 7.5% on the back of benign inflation.
The central bank also narrowed the rate corridor by cutting its reverse repurchase rate by 75 basis points to 9.75%.
Annual inflation has stabilised around 1% in the second half of the year. The central bank is forecasting moderate rise next year but expects price pressures to remain subdued.
Benign inflation had, the central bank said, enabled it to
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