Sri Lanka’s central bank cut its benchmark interest rate for the first time in more than a year to support the economy after the Easter Sunday terror attacks clouded the growth outlook.
Governor Indrajit Coomaraswamy lowered the standing lending facility rate to 8.5% from 9%, the Central Bank of Sri Lanka said in a statement in Colombo on Friday. Six of the seven economists surveyed by Bloomberg predicted a cut, ranging from 25 basis points to 50 basis points.
Standing deposit facility rate lowered to 7.5% from 8% The statutory reserve ratio was kept at 5% Source-Bloomberg
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