Sri Lanka cuts rate to spur growth

10 May 2013 02:17 am - 2 - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s Central Bank reduced policy rates by 50 basis points to stimulate growth. Accordingly the repurchase rate will be placed at 7 percent and the reverse repurchase rate at 9 percent.

In addition, the reserve maintenance period of commercial banks will also be increased to two weeks from one week with effect from June 1, 2013 in order to offer greater flexibility to commercial banks in managing their liquidity.

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Comments - 2

Prof. Calculas Friday, 10 May 2013 02:40 AM

Ha, this is not to simulate the economy. It is for the government to borrow from local banks. They did it before.

Seriously Friday, 10 May 2013 06:46 AM

When are we, the public getting any benefit of seeing the borrowing interest rates coming down and savings interests being decent?

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Sri Lanka cuts rate to spur growth

Comments - 2

Add comment

RECOMMENDED

Jeevan sets a record as Lanka’s youngest-ever Cabinet Minister

TNA was Born in 2001 Due to Elections Shock of 2000

Pain and punishment

Health System in the emergency room

Canada’s targeted sanctioning of Gota and Mahinda

SC judgement on Easter attack: Court rules negligence stood in the way of avoiding most heinous crime

Lasantha was a Fearless Editor who Spoke Truth to Power

Most Viewed in News

Court issues order preventing IRD collecting APIT from judges

Despite economic crisis, Treasury allocates billions for Offices of President, PM, Ministers

IMF tells govt. to tax all those who earn above Rs.45,000 per month

Teenage couple who could not marry over birth certificate issue, committs suicide

Bride turns into Mike Tyson and bites off husband’s ear for having beer with friend

Jeevan sets a record as Lanka’s youngest-ever Cabinet Minister

TODAY'S HEADLINES

Removing ineffective public sector employees Self-retirement mechanism to be introduced:Bandula

President’s office clarifies on expenditure

Maithri apologizes to Catholic community ‘Catholics have no grudge against me’

Catholic Church rejects Maithri’s apology

MIRROR CRICKET

Sports Ministry to advertise for cricket selectors

St. Anthony’s records win against Ananda after 74 years

NPCA to conduct first ever T10 cricket tournament in Sri Lanka

Dewmi Vihanga in ICC U19 World Cup Team of the Tournament

Sri Lanka ‘A’ fight back after England Lions dominate

Chamari to lead Sri Lanka’s Women World Cup team

Gateway retains Neville De Alwis - Ralph Alles Challenge Trophy

Sports Ministry to advertise for cricket selectors