Sri Lanka can grow 5 pct plus this year despite rate hikes -

Sri Lanka can grow 5 pct plus this year despite rate hikes -

July 29, 2016   12:57 pm


Sri Lanka can still achieve economic growth of 5 percent or slightly more even with the now-increased monetary policy rates, the central bank chief said on Friday.

“We can still achieve 5 percent or bit more growth despite 50 basis point rate hike,” Governor Indrajith Coomaraswamy told reporters in Colombo.

On Thursday, the central bank raised its main interest rates by 50 basis points each, in a surprise move aimed at curbing stubbornly high credit growth that is fuelling concern about inflationary pressures.

- Reuters

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