The measure is aimed at easing monetary policy in a benign inflation environment, the country's central bank says.
Sri Lanka's central bank has cut benchmark interest rates, marking the first reduction since finalising debt restructure plans with its international creditors.
Inflation in June moderated to 1.7 percent compared with a peak of nearly 70 percent in September 2022 at the height of the country's unprecedented foreign exchange crisis. The bank said the economy had rebounded since the second quarter of last year. The first three months of this year saw 5.4 percent growth, followed by robust expansion in the second quarter, the bank said.
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