21.95°C Vancouver

Jul 7, 2022 6:35 PM - THE CANADIAN PRESS

Sri Lanka's central bank raises key rates to curb inflation

Share On

Sri Lanka's Central Bank has raised its key interest rates to 14.50% and 15.50% to try to contain inflation that has added to the country's economic woes.

Sri Lankans have suffered months of acute shortages of essentials such as food, fuel, cooking gas and medicines.

The central bank said it had raised its Standing Deposit Facility Rate and the Standing Lending Facility Rate that it charges commercial banks by 100 basis points each to 14.50% and 15.50%, respectively.

Latest news

AlbertaSep 08, 2026

10 Alberta International Students Facing Deportation Get Support From Migrant Rights Group

An organization representing labour and community groups has spoken out in support of 10 international students in Alberta who are facing deportation proceedings. The Migrant Rights Network, an organization advocating for migrant rights, alleges that the students were deliberately targeted after taking part in a protest with about 1,500 Portage College graduates in Calgary. According to the organization and the students, they had successfully completed programs that were eligible for a Post-Graduation Work Permit (PGWP) when they enrolled. However, their work permit applications were later rej
AlbertaSep 08, 2026

Lloydminster Hit-and-Run Claims One Life

A person has died following a hit-and-run collision in Lloydminster, located on the Alberta-Saskatchewan border, early Monday morning. Lloydminster RCMP were called at around 6:30 a.m. after an injured person was found unconscious on the roadway near 49 Avenue and Highway 16. Police and emergency crews responded to the scene and the victim was taken to hospital, where they were pronounced dead. Investigators say they have identified the suspected vehicle and driver involved in the collision. The investigation remains ongoing as police work to determine the circumstances surrounding the inciden
BCSep 08, 2026

Three Separate Shootings Reported Across B.C. During Long Weekend; Two Injured

Three separate shooting incidents were reported in Abbotsford, Delta and Vancouver over the long weekend, leaving two people injured. The first incident occurred shortly after 11 p.m. Saturday in the 2500 block of McCallum Road in Abbotsford. Police said occupants of a dark-coloured SUV fired multiple shots at a moving vehicle. No one was injured. Shortly afterward, officers found an SUV fully engulfed in flames about five kilometres away. Police are investigating whether the vehicle fire was connected to the shooting and believe the incident was targeted. The second shooting happened around
brampton-retail-robbery-series-punjabi-youth-arrested
BCSep 08, 2026

Brampton Retail Robbery Series: Punjabi Youth Arrested

Peel Regional Police have arrested a 22-year-old Brampton man, identified as Tapinder Singh Ghuman, in connection with a series of retail store robberies in the city. Police said five retail businesses were targeted between August 14 and August 24. Investigators allege the suspect used a similar method in each incident, entering the businesses and demanding money while allegedly threatening employees with a sharp weapon. Following the investigation, police identified Ghuman as the suspect and arrested him on August 29. Ghuman is facing five counts of robbery, six counts of disguise with intent
canada-u-s-trade-war-could-drag-on-as-washington-weighs-more-tariffs
CanadaSep 08, 2026

Canada-U.S. Trade War Could Drag On as Washington Weighs More Tariffs

The Canada-U.S. trade war could drag on, with U.S. Trade Representative Jamieson Greer warning that Washington could consider imposing additional retaliatory tariffs on Canadian goods as early as today. Meanwhile, Prime Minister Mark Carney, in a video message to Canadians, said the country would have to pay a significant price for reducing its trade dependence on the United States. However, he stressed that failing to take action could have even more damaging consequences. Carney said Canada has all the necessary tools to reduce its dependence on the U.S. and build a stronger, more prosperous

Related News