Tuesday, March 8, 2011

Sri Lanka Central Bank Holds Policy Rate at 7.00%

The Central Bank of Sri Lanka held the repurchase rate at 7.00% and the reverse repurchase rate at 8.50% as inflationary pressures continued. Sri Lanka saw inflation of 7.8% year on year in February 2011, with annual average inflation at 6.1% in February vs 6.0% in January. Inflation has been driven up by a spike in food prices, in part due to floods affecting key food producing areas.



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