COLOMBO : Sri Lanka's central bank is expected to further loosen monetary policy on Thursday, albeit by a smaller degree than previously, as it looks to use the rapid decline in inflation as an opportunity to foster growth and put the economy firmly on a path of recovery.
CBSL responded by hiking rates by a total 1050 bps until March to contain inflation and rebuild its dollar kitty. Inflation measured in the key Colombo Consumer Price Index eased to 6.3 per cent in July from a high of 69 per cent last September. Inflation was at 12 per cent in June. An additional rate cut on Thursday would help close the gap between policy rates and interest rates of short-term government securities, some analysts added.
Source: Financial Digest (financialdigest.net)
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