Accordingly, the Standing Deposit Facility Rate (Repurchase Rate) would remain at 6.50 percent while the Standing Lending Facility Rate (Reverse repurchase Rate) remains at 8.00 percent, the
Notable economic growth of 7.6 percent in the first quarter of the year combined with the low inflation at 3.2 percent in
The economic growth of 7.6 percent registered in the first quarter of 2014 was notably higher than the growth of 6.1 percent recorded in the corresponding period of the previous year.
The growth in the economy was led by contributions from the Industry and Services sectors although a slowdown was observed in the Agriculture sector owing to adverse weather conditions, the Bank said in its economic policy review for the month of June.
The Bank expects the growth momentum to continue during the remainder of the year with improved global economic conditions and expected improvements in domestic credit conditions and the economy will achieve the envisaged growth of 7.8 per cent for 2014.
Month of May recorded the lowest inflation since
The external trade continued to remain buoyant during
Inflows from workers' remittances remained robust alongside a significant increase in earnings from tourism reflecting the continued influx of tourists, according to the
On account of these developments, together with the inflows from the proceeds of the seventh international sovereign bond in mid
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