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Economy

Sri Lanka cuts interest rates to spur growth after Easter attacks

People walk past the main entrance of the Sri Lanka's Central Bank in Colombo.   © Reuters

COLOMBO (Reuters) -- Sri Lanka's central bank cut its key interest rates on Friday, as widely expected, to support its faltering economy as overall business and consumer confidence slumped in the wake of last month's deadly bomb attacks.

The Central Bank of Sri Lanka cut both the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 50 bps each to 7.50% and 8.50%, respectively. A Reuters poll of 14 economists had expected both rates to be cut.

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