Sri Lanka increases key rates to 21-year high to fight inflation

COLOMBO, July 7 (Xinhua) -- The Monetary Board of the central bank of Sri Lanka decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 100 basis points to 14.50 percent and 15.50 percent respectively on Wednesday.

This was done to tackle the rising domestic inflation, the bank said, adding that these rates are at the highest in 21 years.

The central