Sri Lanka Central Bank surprises, keeps key rates steady

(FASTNEWS|COLOMBO) – Sri Lanka’s Central Bank surprised the market on Tuesday (02) by leaving its key policy rates unchanged, despite heavy pressure on the Rupee currency and foreign outflows from Government securities, the Reuters reported.

The Central Bank kept the Standing Lending Facility Rate (SLFR) at 8.50 per cent and Standing Deposit Facility Rate (SDFR) at 7.25 per cent.

The market had expected rate hikes for both.

Sri Lanka’s key rates have been unchanged since April, when there was a surprise cut.