Governor of Central Bank of Sri Lanka Nandalal Weerasinghe has said that steps will be taken in 2023 to reduce key interest rates. Mr. Weerasinghe said that Sri Lanka’s inflation rate eased to 57.2 per cent in December from 61 per cent in November. He said that inflation is expected to reduce further in 2023.
High interest rates have kept inflation down but the rates will be reduced as the economy stabilises, he said.
Sri Lanka’s central bank in November 2022 decided to maintain the key lending rate at 15.50 per cent.
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