Leading News from Sri Lanka::
Sri Lanka's March inflation eases
Wed, Mar 31, 2010, 07:55 pm SL Time, ColomboPage News Desk, Sri Lanka.
Mar 31, Colombo: Sri Lanka's rate of inflation, on a year on year basis, fell for the first time in six months despite the rising global commodity prices.
Figures issued by the Statistics Department of Sri Lanka Central Bank today showed that percent inflation rose 6.3 percent in March from a year earlier after rising 6.9 percent in February allowing the Bank to keep interest rates low to promote economic growth.
The annual average inflation rate however rose 0.1 percent higher to 3.2 percent this month from February 2010. Consumer's Price Index fell by 1.0 percent over previous month's, with the Index moving downward to 214.8 from 216.9 in February.
Central Bank has maintained low interest rates with the reverse repurchase rate currently at 9.75 percent and the repurchase rate at 7.5 percent to sustain the economic recovery, the government so desires.
Governor of Central bank Ajith Nivard Cabraal on March 18decided to leave interest rates unchanged at a five-year low.
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