April 4, 2018 / 2:26 AM / 16 days ago

Sri Lanka c.bank cuts key lending rate by 25 bps in surprise move

COLOMBO, April 4 (Reuters) - Sri Lanka’s central bank unexpectedly cut its standing lending facility rate (SLFR) by 25 basis points on Wednesday, citing favourable inflation and lacklustre growth after the economy suffered its slowed expansion in 16 years in 2017.

The central bank reduced the SLFR to 8.50 percent and maintained standing deposit facility rate (SDFR) at 7.25 percent. The market, however, had widely expected both rates to be kept steady. (Reporting by Shihar Aneez and Tanvi Mehta Editing by Shri Navaratnam)

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