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Central Banks

Sri Lanka Keeps Rate Steady as Past Hikes Seen Enough

  • CBSL maintains benchmark standing lending rate at 15.5%
  • Although elevated for now, price gains are seen moderating
Updated on

Sri Lanka kept its benchmark interest rate unchanged, as policy makers weigh the impact of past hikes on Asia’s fastest inflation.

Governor Nandalal Weerasinghe held the standing lending facility rate at 15.5%, the Central Bank of Sri Lanka said in a statement in Colombo on Thursday. Seven out of nine economists surveyed by Bloomberg predicted the decision, while one saw a full percentage point increase and the other a 150 basis-point move.