The Monetary Board of Central Bank of Sri Lanka today reduced the policy rates by 25 basis points in view of slowing of credit growth and inflation.

Accordingly, the Repurchase rate and the Reverse Repurchase rate of the Central Bank will be 7.50 percent and 9.50 percent, respectively, with immediate effect.

The Central Bank will also lift the 18 percent credit ceiling it had imposed on commercial banks at the end of 2012.