Bank of Ceylon, People’s Bank cut interest rates
Bank of Ceylon (BoC) and the People’s Bank, Sri Lanka’s biggest banks, announced on Friday that they were cutting interest rates on lending in response to calls from the Central Bank.
The BoC said it was reducing rates by 2% across the board from Monday, September 22 making it the fourth interest rate cut this year.,
The People’s Bank said it reduced its interest rates on loan and overdraft facilities by between 1% and 2%.
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