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Sri Lanka cuts rate to spur growth

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

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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.

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  • 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?


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