COLOMBO/MUMBAI : The Central Bank of Sri Lanka is expected to raise rates a second time since the onset of the pandemic on Thursday to curtail inflationary pressures, manage external challenges and attract foreign inflows, economists and analysts said.
The Sri Lankan central bank in a surprise move raised rates by 50 bps each in August while also increasing the statutory reserve ratio by 200 bps but kept rates unchanged in October as it shifted its focus back to economic growth. The Colombo Consumer Price index rose to 7.6per cent in October from 5.7per cent in September, above the central bank's 4per cent-6per cent target range.
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