Sri Lanka Central Bank keeps the interest rates same even the market expected a rate cut

Sri Lanka Central Bank keeps the interest rates the same even the market expected a rate cut. CBSL expects the broad-based downward adjustment in market lending rates to continue, thereby ensuring affordable credit flows to productive sectors of the economy in the prevailing low inflation environment. The Sri Lankan economy is expected to move along a faster recovery path, despite the latest surge in COVID-19 cases locally that could hamper near term growth prospects. Further, the credit to the private sector picked up notably in August 2020 and the upward trend is expected to continue supported by low-interest rates.