FOREX TradingCharts.com

Financial News: Sri Lanka Holds Key Rate As Expected

Sri Lanka Holds Key Rate As Expected

11/07/2017 - 00:09:00 (RTTNews)

(RTTNews) - Sri Lanka's central bank left its key interest rates unchanged, on Tuesday, as policymakers said the current stance is appropriate.

The monetary board of the Central Bank of Sri Lanka maintained the standing deposit facility rate at 7.25 percent and the standing lending facility rate at 8.75 percent.

The decision was consistent with the objective of maintaining inflation at mid-single digit levels over the medium term and thereby facilitating a sustainable growth trajectory, the bank said in a statement.

The domestic economy is forecast to perform better in the second half of 2017 as a result of continued positive momentum of the industry and service sectors and the moderate recovery in the agriculture sector.

Although the economy remains vulnerable to supply-side disruptions, the implementation of the envisaged structural reforms and the realization of inflows of foreign investments over the medium term are expected to improve the resilience of the economy, the bank noted.

The central bank expects inflation to moderate from December and reach the desired levels in 2018, driven by appropriate monetary conditions as well as the dissipation of the 'one-off' effects of tax revisions on inflation.

The central bank will be wary of hiking rates at a time when growth is sluggish, but with inflation elevated and the currency vulnerable, it has little room to cut rates either, Alex Holmes and Krystal Tan, economists at Capital Economics, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Germany's GDP Growth Rises On Exports, Investment (01 hr(s), 08 min(s), 02 sec(s) ago)
(RTTNews) - Germany expanded at a faster pace in the third quarter on robust foreign demand and in ...Full Story»

Iceland Jobless Rate Rises For Third Month (01 hr(s), 30 min(s), 02 sec(s) ago)
(RTTNews) - Iceland's unemployment rate increased for the third straight month in October, fig ...Full Story»

UK Retail Sales Rebound In November: CBI (01 hr(s), 44 min(s), 02 sec(s) ago)
(RTTNews) - British retail sales expanded in November following a significant contraction in Octob ...Full Story»

Eurozone Private Sector Growth Gains Momentum (02 hr(s), 06 min(s), 02 sec(s) ago)
(RTTNews) - The Eurozone private sector showed signs of growth momentum picking up in the fourth q ...Full Story»

Bulgaria Money Supply Growth Remains Stable In October (02 hr(s), 11 min(s), 02 sec(s) ago)
(RTTNews) - Bulgaria's money supply growth held steady in October, figures from the Bulgarian ...Full Story»

UK Q3 GDP Growth Improves On Spending (03 hr(s), 12 min(s), 02 sec(s) ago)
(RTTNews) - The UK economy expanded at a faster pace in the third quarter, largely driven by priva ...Full Story»

Taiwan Industrial Output Growth Slows More Than Forecast (03 hr(s), 25 min(s), 02 sec(s) ago)
(RTTNews) - Taiwan's industrial production growth eased at a faster-than-expected pace in Octo ...Full Story»

Eurozone Private Sector Growth Strengthens In November (04 hr(s), 06 min(s), 02 sec(s) ago)
(RTTNews) - Eurozone private sector activity growth strengthened in November, flash survey data fr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Germany's GDP Growth Rises On Exports, Investment

11/23/2017 - 07:15 AM (RTTNews)
(RTTNews) - Germany expanded at a faster pace in the third quarter on robust foreign demand and in ...Full Story>>

Iceland Jobless Rate Rises For Third Month

11/23/2017 - 06:53 AM (RTTNews)
(RTTNews) - Iceland's unemployment rate increased for the third straight month in October, fig ...Full Story>>

UK Retail Sales Rebound In November: CBI

11/23/2017 - 06:39 AM (RTTNews)
(RTTNews) - British retail sales expanded in November following a significant contraction in Octob ...Full Story>>

Eurozone Private Sector Growth Gains Momentum

11/23/2017 - 06:17 AM (RTTNews)
(RTTNews) - The Eurozone private sector showed signs of growth momentum picking up in the fourth q ...Full Story>>

Bulgaria Money Supply Growth Remains Stable In October

11/23/2017 - 06:12 AM (RTTNews)
(RTTNews) - Bulgaria's money supply growth held steady in October, figures from the Bulgarian ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.