COLOMBO: The Central bank of Sri Lanka is expected to hold its key monetary policy rates at their record low level. The repurchase and reverse repurchase rates are at 6.50 percent and 8.00 percent respectively. In September, the central bank paid commercial banks using its standing deposit facility only 5 percent interest after the banks had made deposits three times in a calendar month at the current 6.50 percent rate, a move seen by many banks as an effective rate cut. Between December 2012 and January 2014, the central bank cut the repurchase rate, or repo rate, by 125 basis points (bps) and the reverse repurchase rate, the reverse repo, by 175 bps to stimulate economic growth. The pace of growth picked up to 7.3 percent last year from 6.3 percent in2012. The central bank has estimated growth at 7.8 percent this year.
Markets, oil drop in Asia but bitcoin edges towards $50,000
HONG KONG: Markets fell in Asia on Friday in holiday-thinned trade with investors awaiting developments in US stimulus talks, while...
