Sri Lanka raises policy rates by 100 bps to finalize IMF bailout

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Sri Lanka's central bank raised interest rates in an unexpected move on Friday, to help finalize an International Monetary Fund's Extended Fund Facility (EFF) arrangement, it said in a statement.

The bank raised its standing deposit facility rate and standing lending facility rate by 100 basis points each to 15.50 percent and 16.50 percent, respectively.

Source(s): Reuters