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Monday, 05 March 2018 - 22:12
Does not anticipate rise in interest rates says CBSL
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The Central Bank emphasizes based on its current projections, an increase in market interest rate is not expected in the near term.

It said that the recent movements in headline inflation, core inflation, inflation expectations, broad money growth, credit expansion, expansion in economic activity as well as the international reserve position does not justify the view that a rational market would also expect an increase in interest rates.

Issuing a statement, the CBSL said it does not expect a rise in domestic interest rates in the period ahead.

It rejects reports on such an anticipation.

With regard to the external sector, official reserves are currently estimated at around $ 7.9 billion compared to $ 6 billion at end 2016.

The improvement in reserves is recorded on both quantitative and qualitative aspects, with the Central Bank purchasing $ 1.7 billion from the domestic market on a net basis in 2017 and $ 284 million so far during 2018.
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