Sri Lanka Central Bank Cuts Rates Unexpectedly

RTTNews | Před 364 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 484 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 657 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 910 dny
U.S. Existing Home Sales Slump To Nine-Month Low In June

U.S. Existing Home Sales Slump To Nine-Month Low In June

A report released by the National Association of Realtors on Wednesday showed existing home sales in the U.S. pulled back by more than expected in the month of June. NAR said existing home sales slumped by 2.7 percent to an annual rate of 3.93 million in June after jumping by 1.0 percent to a revised rate of 4.04 million in May.
RTTNews | Před 59 minutami
Positive Start Seen For Canadian Stocks

Positive Start Seen For Canadian Stocks

Bay Street looks headed for a firm start Wednesday morning, tracking positive global cues amid rising prospects of several nations striking trade deals with the U.S. before the August 1 deadline.
RTTNews | Před 3 h 32 min
FTSE 100 Moderately Higher; Informa Rises Sharply On Strong Guidance

FTSE 100 Moderately Higher; Informa Rises Sharply On Strong Guidance

The U.K. stock market is gaining some ground in positive territory on Wednesday, reflecting the fairly bullish mood across Europe, amid prospects of an EU-US trade deal. Hopes about the European Union and the U.S. striking trade deals have increased after U.S. President Donald Trump announced trade deals with Japan and Philippines.
RTTNews | Před 4 h 46 min
CAC Rises 1.3% On U.S-EU Trade Deal Optimism

CAC Rises 1.3% On U.S-EU Trade Deal Optimism

French stocks are up firmly in positive territory on Wednesday, recovering well from recent losses. U.S. President Donald Trump's announcement about trade deals with Japan and Philippines has raised hopes the European Union will soon strike a deal with the U.S. ahead of the August 1 deadline.
RTTNews | Před 4 h 59 min