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CBSL keeps overnight policy rates unchanged; latest review of IMF program awaited
['Sahan Weerasooriya']
The Island
The Central Bank kept its overnight policy rate unchanged yesterday as it awaited the latest review of a US $2.9-billion International Monetary Fund programme.
‘The Central Bank will maintain the overnight policy rate at 7.75 percent and stable inflation, healthy credit growth and steady economic expansion are the reasons for the decision, Central Bank Governor Dr Nandalal Weerasinghe said.
The Central Bank Governor stated this yesterday at the monthly policy review meeting held at Central Bank head office in Colombo.
Meanwhile, inflation expectations appear to be well anchored around the inflation target.
‘This was mainly supported by the net foreign exchange purchases by the Central Bank and inflows from multilateral agencies.