February 19, 2016 / 2:12 PM / 3 years ago

Sri Lanka cenbank unexpectedly raises policy rates 50 bps

Feb 19 (Reuters) - Sri Lanka’s central bank unexpectedly raised its key policy interest rates by 50 basis points (bps) on Friday, saying “certain risks to macroeconomic stability continue.”

The Central Bank of Sri Lanka raised the standing deposit facility (SDF) rate to 6.50 percent and the standing lending facility rate (SLFR) to 8 percent. (bit.ly/1mLXNas)

Nine out of 14 economists surveyed in a Reuters poll had predicted the bank would keep the SDFR and the SLFR steady.

The commercial banks’ statutory reserve ratio, which was raised 150 bps with effect from Jan. 16, was left unchanged at 7.50 percent. (Reporting by Shihar Aneez in Colombo and Samantha Kareen Nair in Bengaluru Editing by Jeremy Gaunt)

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