The Central Bank of Sri Lanka (CBSL) raised the standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) by 50 basis points (bps) each to 5.5% and 6.5%, respectively.
COLOMBO: The Sri Lankan central bank raised interest rates yesterday, as expected, shifting its focus away from growth and back to controlling inflation in a bid to curb soaring imports and attract more foreign capital.
The island nation has reiterated its commitment to repaying the entire US$4bil (RM16.74bil) owed to investors in the rest of 2022 but in the absence of incoming dollars some analysts believe the country could face its first-ever default.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
