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.
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