20.08.2008 - Sri Lanka says easing commodity prices 'moderating' inflation
From Bloomberg: Sri Lanka's central bank said lower fuel and food prices will help moderate Asia's second-fastest inflation, after leaving interest rates unchanged for an 18th straight meeting. "With the easing of commodity prices in international markets, external price pressures on domestic inflation are likely to further abate in the months ahead,'' the central bank said in a statement in Colombo today after maintaining its benchmark repurchase rate at 10.5 percent. Crude oil has tumbled 22 percent from July's record $147.27 a barrel and rice and wheat are down 29 percent and 35 percent from their peaks. That may help slow inflation across Asia in the months ahead and reduce the pressure on the region's central banks to raise interest rates..... Full Article: Source
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