April 5, 2012 / 12:21 PM / 6 years ago

Sri Lanka ups policy rates to curb credit growth

COLOMBO, April 5 (Reuters) - Sri Lanka’s central bank on Thursday r aised policy rates as expected t o curb credit growth which it said appeared to be expanding at an “undesired pace”.

“There are still some signs that credit growth is continuing at an undesired pace,” the central bank said in a statement.

The central bank’s monetary board decided to raise the repurchase rate by 25 basis points to 7.75 percent and the repurchase rate by 75 basis points to 9.75 per cent. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Bryson Hull)

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