Has IMF medicine become irrelevant in SL? Maybe not

The Central Bank: Easing the monetary policy is the best

Sri Lanka’s Central Bank cut its two basic interest rates last week – its REPO rate or Repurchase rate that it uses to crunch the excess liquidity in the market and its Reverse REPO rate used for pumping money to the system to stimulate the economy – by historic half a percent. Accordingly, REPO rate now stands at 7% per annum and Reverse REPO rate at 9%.