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The Central Bank of Sri Lanka (CBSL) has decided to maintain the Overnight Policy Rate (OPR) at 8.75%, following its latest Monetary Policy Board meeting held yesterday (22).
The Monetary Policy Board arrived at the decision after carefully considering the evolving conditions and outlook on the domestic and global fronts, the CBSL said in a statement.
Renewed tensions in the Middle East have resulted in a surge in global commodity prices, particularly petroleum. These developments are likely to dampen global economic prospects with potential spillovers to the domestic economy through multiple channels, the CBSL noted.
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