Central Bank tightens key monetary policy rates

Central Bank tightens key monetary policy rates

Central Bank tightens key monetary policy rates

Written by Staff Writer

29 Jul, 2016 | 11:28 am

The Central Bank, on Thursday, tightened key monetary policy rates by 50 basis points to check nagging inflationary pressures fuelled by high credit growth.

For the second time since December, the Central Bank tightened its policy rates, raising the Standing Deposit Facility (SDF) rate to 7.00% and the Standing Lending Facility Rate (SLFR) TO 8.50%.

According to the Central Bank, further tightening of monetary policy is required to curb excessive demand in order to pre-empt the escalation of inflationary pressures and to support the balance of payments.

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