Tuesday, May 17, 2011

Sri Lanka Central Bank Holds Rate at 7.00%

The Central Bank of Sri Lanka held the repurchase rate unchanged at 7.00%, and left the reverse repurchase rate at 8.50%, and the reserve ratio at 8%.  The Bank said: "Domestic supply conditions have recovered from the impact of floods in early 2011, and the current weather conditions are favourable for agricultural activity and hydropower generation. The upward trends that were observed in international commodity prices have decelerated, although prices of many commodities still remain high."  Sri Lanka's Colombo Consumer's Price Index (CCPI) rose 9.8% in April 2011, up from 8.6% in March this year. HMAM93Z2RGKS



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