UPDATE 2-Sri Lanka c.bank resumes rate cuts to boost growth ...Middle East

Sri Lanka's central bank reduced key its policy rates by 100 basis points on Thursday, as expected, doubling down on efforts to spur growth and finalise the first review of a $2.9 billion bailout package from the International Monetary Fund. The Central Bank of Sri Lanka (CBSL) lowered the standing deposit facility rate and the standing lending facility rate to 10% and 11%, respectively, it said in a statement, to put the crisis-hit economy on a firmer growth footing.

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