COLOMBO : Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability.
The Standing Lending Facility rate was held steady at 15.50 per cent while the Standing Deposit Facility Rate was kept unchanged at 14.50 per cent, remaining at their highest levels since August, 2001. The central bank said tight monetary and fiscal policies will help bring down inflation to desired levels by the end of 2023 and restore price and economic stability over the medium term.
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