Sri Lanka central bank raises interest rates as inflation worries mount

Sri Lankan central bank raised interest rates, its second straight increase, to curb growing inflationary pressures amid an ongoing foreign exchange crisis that threatens to derail domestic economy

The Sri Lankan central bank raised interest rates as expected on Friday, its second straight increase, to curb growing inflationary pressures amid an ongoing foreign exchange crisis that threatens to derail the domestic economy.
 

The Central Bank of Sri Lanka (CBSL) raised the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 6.50% and 7.50%, respectively. The median estimate in a Reuters poll of 13 economists was for the two rates to be raised by 50 basis points each. But the 10 who said rates will go up were equally divided on the