August 23, 2019 / 2:13 AM / a month ago

Sri Lanka central bank cuts rates by 50 bps

COLOMBO, Aug 23 (Reuters) - Sri Lanka’s central bank cut its key interest rates on Friday, in a surprise move to boost sluggish growth after the country’s tourism sector and investments plummeted following the Easter day attacks.

The Central Bank of Sri Lanka cut both the standing deposit facility rate (SDFR) and standing lending facility rate (SLFR) by 50 basis points to 7% and 8%, respectively.

A Reuters poll had expected the central bank to keep rates steady. (Reporting by Shihar Aneez; Editing by Sriraj Kalluvila)

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