Sri Lanka, April 3 -- The Monetary Board of the Central Bank has decided to further reduce its key policy interest rates by 25 basis points (bps) in a bid to cushion the impact of COVID-19 on the island nation's economy.
The Monetary Board took this decision in an emergency meeting convened today its second such meeting since March 16, when the policy rates were cut by 25 basis points. So far this year, policy rates have been slashed by 100 basis points. The next and the third monetary policy meeting for the year was due on April 09 but the Central Bank said there would not be any policy announcement on the 09th.
"However, the Monetary Board may review the monetary policy stance of the Central Bank and make necessary changes as and when r...