Sri Lanka's Central Bank sets new 8% policy rate to aid economic recovery and control inflation.

Sri Lanka’s Central Bank has set a new single policy rate of 8%, easing from previous rates to support economic recovery. This move replaces the old dual-rate system, aiming to improve monetary policy efficiency. The change follows the country’s gradual recovery from a severe financial crisis, aided by a $2.9 billion IMF assistance package. The new rate is intended to help control inflation while fostering economic growth.

November 26, 2024
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