COLOMBO: Sri Lanka raised its key interest rate by 25 basis points Friday as inflation spiked and foreign reserves fell, compounding problems caused by slowing economic growth.
The Central Bank of Sri Lanka said it raised the benchmark lending rate from 8.5 percent to 8.75 percent as year-on-year inflation increased to 8.2 percent last month, sharply up from 6.5 percent in January.
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