The Central Bank has decided to maintain the policy interest rates unchanged following its monthly monetary review meeting held yesterday (20). Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank unchanged at their current levels of 6.50 per cent and 8.00 per cent, respectively.
“Earnings from exports grew by 23.2 per cent, sustaining its growth momentum, which commenced in June 2013. Inflows, on account of workers’ remittances recorded a healthy increase in January 2014 while earning from tourism gathered momentum during the first two months of 2014”, the Central Bank said.
The economy , which grew by 7.3 per cent in 2013 compared to 6.3 per cent in 2012, signaled a shift towards a higher and sustainable trajectory, the Bank further said.