Foreign media: Sri Lanka Central Bank's interest rate hikes 100 basis points to respond to inflation

Zhongxin Jingwei, July 7th. Singapore's "Lianhe Zaobao" reported that the Sri Lankan central bank raised the loan interest rate of 100 basis to 15.5%on the 7th.Due to the rise in prices, Sri Lank cartoic inflation rate ranks first in Asia.

The report quoted the Sri Lankan central bank, "((Sri Lanka) the monetary policy committee believes that it is necessary to further tighten the monetary policy to curb any unfavorable inflation expectations."

According to reports, of the seven economists surveyed by Bloomberg, six of them predict that Sri Lanka's interest rate hikes ranged from 50 basis points to 300 basis points, and the other person would remain unchanged.

The report mentioned that due to the rapid exhaustion of foreign exchange reserves and the continuous shortage of supply, Sri Lanka Consumer Price Index (CPI) recorded a record rose in June.Sri Lanka Prime Minister Vikramaxa said on the 5th that in the case of rising commodity prices and currency depreciation, Sri Lank carto inflation will reach 60%in the next few months.(Zhongxin Jingwei APP)

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