March 5, 2020 / 2:23 AM / a month ago

BRIEF-Sri Lanka Cenbank Keeps Key Monetary Policy Rates Steady

March 5 (Reuters) - SRI LANKA CENTRAL BANK:

* KEEPS KEY MONETARY POLICY RATES STEADY

* COVID-19 OUTBREAK LIKELY TO AFFECT SRI LANKA’S ECONOMIC PERFORMANCE

* LIKELY SLOWDOWN OF GLOBAL ECONOMY, DISRUPTIONS TO SUPPLY CHAIN MAY AFFECT SRI LANKA’S MERCHANDISE, SERVICE EXPORTS

* SLOWDOWN IN GLOBAL TOURIST MOVEMENTS WILL AFFECT SRILANKA’S TOURISM SECTOR

* SPREAD OF VIRUS TO COUNTRIES WITH SIGNIFICANT NUMBER OF SRI LANKAN MIGRANT WORKERS COULD AFFECT REMITTANCE INFLOWS

* ECONOMY EXPECTED TO SOMEWHAT RECOVER IN 2020 FROM CURRENT SUBPAR PERFORMANCE

* INFLATION EXPECTED TO STABILISE WITHIN DESIRED RANGE OVER MEDIUM TERM

* MARKET LENDING RATES ARE EXPECTED TO REDUCE FURTHER

* STANDING READY TO PROVIDE LIQUIDITY TO DOMESTIC FINANCIAL MARKETS AS NECESSARY

* SRI LANKA PRIVATE SECTOR CREDIT GREW 4.5% Y/Y IN JAN VERSUS 4.3% IN DEC - CENBANK

* GROWTH OF CREDIT TO PRIVATE SECTOR EXPECTED TO ACCELERATE FURTHER

* ECONOMIC LINKS WITH CHINA MAY BE DIRECTLY AFFECTED AS SIGNIFICANT VOLUMES OF GOODS IMPORTED FROM CHINA

* ADVERSE IMPLICATIONS FROM VIRUS LIKELY TO OUTWEIGH MARGINAL BENEFIT FROM LOWER ENERGY PRICES, INTERNATIONAL INTEREST RATES Source text: bit.ly/2IjlNzj Further company coverage: [ ]

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