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* Policy decision due Friday, August 15 at 7:30 am (0200 GMT)
* Central bank last cut reverse repo in January, by 50 bps
* Key policy rates are already at multi-year lows
COLOMBO, Aug 14 (Reuters) - Sri Lanka's central bank is expected to retain
its key monetary policy rates on Friday for a seventh straight month, a Reuters
poll showed.
The central bank chief said last week there was a greater chance of a
reduction in key policy rates than an increase, after the International Monetary
Fund urged the island nation to keep key interest rates on hold for the near
term.
Between December 2012 and January 2014, the central bank cut the repurchase
rate by 125 basis points (bps) and the reverse repurchase rate by 175 bps to
stimulate economic growth. The pace of growth picked up to 7.3 percent last year
from 6.3 percent in 2012. The central bank has estimated growth at 7.8 percent
this year.
The yield on one-year T-bills has fallen to as low as 6.31 percent in the
primary market, below the 6.50 percent rate at which the central bank mops up
liquidity from commercial banks.
Following are the poll's forecasts of where rates will be after Friday's
announcement:
Repo Reverse repo SRR
(in pct) (in pct) (in pct)
Median 6.50 8.00 6.00
Average 6.38 7.87 6.00
Minimum 6.00 7.50 6.00
Maximum 6.50 8.00 6.00
Rates in July 6.50 8.00 6.00
No. of analysts 15 15 15
RELATED STORIES
Greater chance of rate cut than hike- c.bank
IMF cautions S. Lanka on monetary, fx policies
S.Lanka rupee not under downward pressure- c.bank
S.Lanka's debt levels likely to ease further
S.Lanka July inflation picks up from 28-month low
C.bank sees no overheating despite lower rates
S.Lanka's economy grows 7.6 pct in Q1 2014
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)
http://in.reuters.com/article/2014/08/14/sri-lanka-economy-rates-idINL4N0QJ35520140814
* Central bank last cut reverse repo in January, by 50 bps
* Key policy rates are already at multi-year lows
COLOMBO, Aug 14 (Reuters) - Sri Lanka's central bank is expected to retain
its key monetary policy rates on Friday for a seventh straight month, a Reuters
poll showed.
The central bank chief said last week there was a greater chance of a
reduction in key policy rates than an increase, after the International Monetary
Fund urged the island nation to keep key interest rates on hold for the near
term.
Between December 2012 and January 2014, the central bank cut the repurchase
rate by 125 basis points (bps) and the reverse repurchase rate by 175 bps to
stimulate economic growth. The pace of growth picked up to 7.3 percent last year
from 6.3 percent in 2012. The central bank has estimated growth at 7.8 percent
this year.
The yield on one-year T-bills has fallen to as low as 6.31 percent in the
primary market, below the 6.50 percent rate at which the central bank mops up
liquidity from commercial banks.
Following are the poll's forecasts of where rates will be after Friday's
announcement:
Repo Reverse repo SRR
(in pct) (in pct) (in pct)
Median 6.50 8.00 6.00
Average 6.38 7.87 6.00
Minimum 6.00 7.50 6.00
Maximum 6.50 8.00 6.00
Rates in July 6.50 8.00 6.00
No. of analysts 15 15 15
RELATED STORIES
Greater chance of rate cut than hike- c.bank
IMF cautions S. Lanka on monetary, fx policies
S.Lanka rupee not under downward pressure- c.bank
S.Lanka's debt levels likely to ease further
S.Lanka July inflation picks up from 28-month low
C.bank sees no overheating despite lower rates
S.Lanka's economy grows 7.6 pct in Q1 2014
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)
http://in.reuters.com/article/2014/08/14/sri-lanka-economy-rates-idINL4N0QJ35520140814
