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Sri+Lanka+policy+rates+unchanged%2C+banks+urged+to+narrow+spreads.
Wednesday, 18 June 2014 - 13:26
Sri Lanka policy rates unchanged, banks urged to narrow spreads.
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Sri Lanka's central bank held policy interest rates at 6.5 and 8 percent but urged banks to narrow spreads by cutting lending rates, as credit growth continued to be slow.

The Central Bank said it was "of the firm view that the banks now have adequate space to reduce market lending rates further" to boost credit demand, as deposit rates have fallen over the past few months.

In April private sector credit grew 3.3 percent from a year earlier, the monetary authority said in its May policy review indicating that private sector credit stock may have shrunk by about 15 billion rupees in April.
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