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Sri Lanka tightens monetary policy amid growth recovery

COLOMBO, Aug. 19 (Xinhua) — The Central Bank of Sri Lanka (CBSL) on Friday announced that it would tighten the monetary policy in order to preempt inflation in the medium term and address external sector imbalances.

The CBSL announced that it would be increasing the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) by 50 basis points to 5 percent and 6 percent respectively. Meanwhi