Sri Lanka Central Bank Cuts Rates Unexpectedly

RTTNews | Před 365 dny
Sri Lanka Central Bank Cuts Rates Unexpectedly

(RTTNews) - Sri Lanka central bank lowered its policy rates unexpectedly by 25 basis points on Wednesday as inflation is expected to remain below the target over coming months.

The Central Bank of Sri Lanka decided to reduce the Standing Deposit Facility Rate by 25 basis points to 8.25 percent and the Standing Lending Facility Rate to 9.25 percent.

The bank had reduced rates by a cumulative 625 basis points since 2023.

"The Board underscored the need to signal its desire to continue eased monetary conditions to sustain the revival of economic activity towards the full potential, in the absence of significant inflationary pressures," the bank said in a statement.

The central bank said financial institutions are expected to transmit the benefits of easing by adjusting lending rates.

The board expects inflation to remain below the target of 5 percent by a 'sizeable margin' for the next several months before aligning with the targeted level over the medium-term.

Due to the downward revisions to the electricity tariffs and fuel and gas prices and weaker demand, headline inflation fell to 1.7 percent in June. Last month, the International Monetary Fund released $336 million tranche to Sri Lanka to support its economic policies and reforms.

The executive board on completion of Article IV consultation said monetary policy should continue prioritizing price stability, supported by a sustained commitment to refrain from monetary financing and safeguard central bank independence.

Značky : LKR
read more
Sri Lanka Cuts Key Interest Rates By 50 Bps

Sri Lanka Cuts Key Interest Rates By 50 Bps

Sri Lanka's central bank unexpectedly reduced its benchmark rates on Tuesday to support the economic recovery. The Monetary Policy Board of the Central Bank of Sri Lanka, led by Governor Nandalal Weerasinghe, decided to cut the Standing Deposit Facility Rate by 50 basis points to 8.50 percent and the Standing Lending Facility Rate to 9.50 percent.
RTTNews | Před 485 dny
Sri Lanka Central Bank Slashes Key Rates By 100 Bps

Sri Lanka Central Bank Slashes Key Rates By 100 Bps

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.
RTTNews | Před 658 dny
Sri Lanka Central Bank Keeps Rates Steady Amid Economic Crisis

Sri Lanka Central Bank Keeps Rates Steady Amid Economic Crisis

Sri Lanka's central bank kept its key interest rate unchanged on Wednesday as runaway inflation showed signs of slowdown, and amid the country's negotiations with the International Monetary Fund to secure a $2.9 billion rescue deal to get the economy back on track. The Monetary Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility Rate at 14.50 percent.
RTTNews | Před 911 dny
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

The Switzerland market stayed a bit positive in early trades on Thursday, but retreated around mid morning and then spent the rest of the day's session in negative territory, as investors stayed largely cautious, reacting to earnings and awaiting news from the trade front.
RTTNews | Před 2 h 17 min
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European stocks closed broadly higher on Thursday despite paring most of their early gains, after the European Central Bank left its interest rate unchanged for the first time in a year. The ECB held its key interest rates steady, in line with expectations.
RTTNews | Před 2 h 37 min
U.S. New Home Sales Rebound Much Less Than Expected In June

U.S. New Home Sales Rebound Much Less Than Expected In June

After reporting a steep drop by new home sales in the U.S. in the previous month, the Commerce Department released a report on Thursday showing a modest rebound by new home sales in the month of June. The Commerce Department said new home sales rose by 0.6 percent to an annual rate of 627,000 in June after plummeting by 11.6 percent to a rate of 623,000 in May.
RTTNews | Před 4 h 30 min
U.S. Initial Jobless Claims Unexpectedly Dip To 217,000

U.S. Initial Jobless Claims Unexpectedly Dip To 217,000

The Labor Department released a report on Thursday unexpectedly showing another modest decrease by first-time claims for U.S. unemployment benefits in the week ended July 19th. The report said initial jobless claims edged down to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to rise to 227,000.
RTTNews | Před 5 h 12 min
ECB Leaves Rates Unchanged As Expected

ECB Leaves Rates Unchanged As Expected

The European Central Bank held its key interest rates steady on Thursday, in line with expectations, as policymakers assessed that price pressures continue to ease, but acknowledged that the economic environment remains highly uncertain mainly due to the trade tariff wars.
RTTNews | Před 5 h 56 min