Sri Lanka's central bank Thursday announced a 50 basis point cut in its benchmark interest rates, the third reduction since the Easter bombings that killed at least 269 people.
It said the two previous rates cuts of 50 basis points each since the April 21 suicide bombings against three churches and three luxury hotels had not adequately brought down market interest rates for consumers. It said tourism had picked up after the devastating Easter bombings, but the number of tourist arrivals and income from the sector was below 2018 levels.
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