The Central Bank of Sri Lanka lowered its benchmark rates by 100 basis points on Thursday citing faster deceleration of inflation.
The Standing Deposit Facility Rate and the Standing Lending Facility Rate were reduced by 100 basis points to 10.00 percent and 11.00 percent, respectively.
The bank has reduced the key rates by 450 basis points so far this year.
The bank expects a swift and sizeable decline in overall market lending rates in line with the policy easing steps.
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