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Sri Lanka Central Bank Leaves Key Rates Unchanged

Sri Lanka's central bank decided to keep its key policy rates unchanged on Monday as the outlook for inflation continues to remain favorable.

The Monetary Board of the Central Bank of Sri Lanka decided to retain repurchase rate at 6.50 percent and the reverse repurchase rate at 8.50 percent. Members viewed that the current monetary policy stance is appropriate.

The bank lowered both the repo and reverse repo rates by 50 basis points at the meeting held on October 14.

Inflation outlook continues to remain favorable supported by subdued international commodity prices, improved domestic supply conditions and well contained demand driven inflationary pressures, the bank noted.

According to current projections, bank said inflation is likely to remain benign, at mid-single digit levels throughout 2014 as well.

by RTT Staff Writer

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