CB to cut key rates by 50 basis points: Poll

Thursday, 2 January 2014 00:00 -     - {{hitsCtrl.values.hits}}

Reuters: The Central Bank of Sri Lanka is expected to cut its key policy rates by 50 basis points on Thursday, a Reuters poll showed, after keeping them steady for two months at multi-year lows. The Central Bank has lowered key rates by 125 basis points since December 2012 to stimulate economic growth. It has also used other measures to ease monetary policy, including cutting commercial banks’ statutory reserve ratio (SRR) by 200 basis points from July. The Central Bank has estimated the $59 billion economy grew a minimum of 7.2% in 2013 compared with 6.4% in the previous year.