Economics

Sri Lanka Holds Rates to Contain Price Gains, Aid Growth

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By Rishaad Salamat and Anusha Ondaatjie

February 12, 2013 at 9:51 AM UTC

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Sri Lanka left interest rates unchanged for a second month as it seeks to damp price pressures while supporting economic growth.

The Central Bank of Sri Lanka kept its reverse repurchase rate at 9.5 percent and the repurchase rate at 7.5 percent, it said in a statement in Colombo today. Seven of nine economists in a Bloomberg News survey predicted no change. Two forecast a quarter-point cut in both rates.