November 14, 2018 / 2:22 AM / a year ago

Sri Lanka's cbank raises key rates in surprise move

COLOMBO, Nov 14 (Reuters) - Sri Lanka’s central bank raised its key monetary policy rates on Wednesday in a surprise move, and cut the Statutory Reserve Ratio (SRR).

The standing lending facility rate (SLFR) was raised by 50 basis points to 9.00 percent and standing deposit facility rate (SDFR) by 75 basis points to 8.00 percent.

The SRR applicable on all rupee deposit liabilities of commercial banks was cut by 1.50 percentage points to 6.00 percent.

Analysts polled by Reuters were expecting the central bank to leave the rates unchanged.

Sri Lanka’s key rates had been unchanged since a surprise cut in April.

Reporting by Shihar Aneez and Chris Thomas; Editing by Amrutha Gayathri

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