Sri Lanka central bank expects 7.8 pct growth in 2014
COLOMBO Jan 2 (Reuters) - Sri Lanka's economy is expected to grow 7.8 percent this year, compared with an estimated 7.2 percent expansion last year, Central Bank Governor Ajith Nivard Cabraal said on Thursday.
"Now we are a $67 billion economy. We expect the economy to grow at 7.8 percent this year and to gradually expand it to 8.5 percent in 2016," Cabraal told a forum in Colombo while revealing the monetary and financial policies for 2014.
His statement came after the central bank cut its reverse repurchase rate by 50 basis points to multi-year low of 8 percent, in a move to reduce commercial banks' interest rate spreads over time. (Reporting by Shihar Aneez and Ranga Sirilal; Editing by Kim Coghill)
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