January 1, 2014 / 11:09 AM / 6 years ago

POLL-Sri Lanka central bank to cut key rates by 50 bps on Thursday

* Policy decision due Thursday, Jan. 2 at 7:30 am (0200 GMT)
    * Central bank has cut policy rates by 125 bps since
December 2012

    COLOMBO, Jan 1 (Reuters) - Sri Lanka's central bank is
expected to cut its key policy rates by 50 basis points on
Thursday, a Reuters poll showed, after keeping them steady for
two months at multi-year lows.
    The central bank has lowered key rates by 125 basis points
since December 2012 to stimulate economic growth. 
    It has also used other measures to ease monetary policy,
including cutting commercial banks' statutory reserve ratio
(SRR) by 200 basis points from July. 
    Sri Lanka's central bank has estimated the $59 billion
economy grew a minimum of 7.2 percent in 2013 compared with 6.4
percent in the previous year.
    Following are the poll's forecasts for where rates will be
after Thursday's announcement:      
                    Repo     Reverse repo    SRR
                  (in pct)    (in pct)     (in pct)    
Median              6.00         8.00       6.00
Average             6.20         8.07       6.00  
Minimum             6.00         8.00       6.00
Maximum             6.50         8.50       6.00   
Rates in Dec        6.50         8.50       6.00
No. of analysts       10           10         10
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IMF sees 6.5 pct growth for Sri Lanka 2013, 2014 
   

 (Reporting by Ranga Sirilal and Shihar Aneez; Editing by
Catherine Evans)
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