Sri Lanka Sees Inflation Rate Rising to 40% in Next Few Months [Business News Network (BNN) (Canada)]
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Source: Business News Network
The central bank is monitoring underlying inflation that strips out volatile items, which has been responding well to policy settings, Central Bank of Sri Lanka Governor Nandalal Weerasinghe said at a briefing in Colombo Thursday. The central bank earlier Thursday left interest rates unchanged as it waits for previous increases to filter through the economy. The CBSL has raised the key rate by 850 basis points since the start of the year to combat inflation, which is running at almost 30% now. Sri Lanka Holds Rates After Previous Hikes as Economy Slides ©2022 Bloomberg L.P. Top Picks Top Stories Stocks suffer steepest rout in almost two years Canadian inflation hits new three-decade high of 6.8% on housing BlackBerry sees annual revenues nearly doubling in five years 'Full-blown war' of housing NIMBYism threatens Canada's economy: CAPREIT CEO
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