Sri Lanka's bank lending rates expected to ease

Saturday, 08 June 2013 - 16:08


Sri Lanka's bank lending rates are expected to ease in the second half of 2013 with reduced bank borrowings by the state, the Central Bank said holding policy rates in June, after a cut last month.

In May the monetary authority cut its policy rate corridor by 50 basis points.

The reverse repo rate at which money is given to banks for liquidity shortfalls and indicates a ceiling overnight rate in the interbank market was cut to 9.00 percent and the repo rate at which excess money is withdrawn was cut to 7.00 percent.

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