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Central Bank maintains policy interest rates to promote economic growth

Dec 14, 2010 10:05:57 AM - itnnews.lk

The Central Bank has decided to maintain the current policy interest rates following its monthly monetary review meeting held yesterday.

Accordingly, the Repurchase rate and the Reverse Repurchase rate of the Central Bank would remain at 7.25 percent and 9.00 percent, respectively. Announcing its decision in the Monetary Policy Review for this month, the Central Bank said Sri Lanka’s domestic credit conditions have improved due to the recent monetary easing and supported the sustained recovery in domestic economic activity. According to the Central Bank, domestic economic activity has rebounded strongly this year and the external sector has also recorded encouraging performance in recent months. The Bank expects the growth momentum to continue into the next year with the recovery in the global economy.