Posted on 05/25/2026 9:05:32 PM PDT by nickcarraway
Sri Lanka's central bank stunned markets by raising its benchmark policy rate by an outsized 100 basis points on Tuesday, as policymakers scrambled to stem inflation and support a currency buckling under soaring energy prices.
The Central Bank of Sri Lanka CBSL) raised the overnight policy rate to 8.75 per cent from 7.75 per cent, blaming higher inflation and a depreciating rupee due to the U.S.-Israeli war with Iran.
Seven out of a dozen economists and analysts polled by Reuters had forecast only a 25 basis-point or slightly higher change to the rate, citing the deepening impact on foreign reserves from the conflict.
(Excerpt) Read more at channelnewsasia.com ...
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Interesting way to spell percent. I think that AI translation needs new training.
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