Friday, 26 July 2024 10:37

CB cuts key rates by 25bps to prop up credit, economic growth Featured

The Central Bank trimmed the policy rates by 0.25 percentage points. While the decision caught some sections of the economy off guard, others were not surprised.

The financial sector regulator was not entirely satisfied with the way the banks had reacted to the earlier rate cuts and is of the view that the risks related to the price changes are currently balanced.

The Central Bank cut its Standing Lending and Deposit Facility rates by 25 basis points each, bringing the two benchmark rates to 9.25 percent and 8.25 percent, respectively.

The move was largely symbolic and lacked much significance, except for the need to signal that the Central Bank is on the easing path.

 

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