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Wednesday, December 12, 2012 - 06.10 GMT

CB reduces interest rates to boost growth


The Central Bank has decided to ease tight monetary policies it imposed earlier this year and reduce the policy interest rates aiming to boost economic growth and arrest the rising inflation, the Central Bank said in its monetary policy review.

Accordingly, the Repurchase rate and the Reverse Repurchase rate of the Central Bank will be 7.50 per cent and 9.50 per cent, respectively, with immediate effect, the Bank said.

At the same time, the Monetary Board was also of the view that the credit ceiling imposed for 2012 has served its purpose and such a policy measure may not be required in the near future.






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Last modified: December 12, 2012.

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