The Central Bank further strengthens its monetary policy stance

Directions to make these regulated interest rates effective will be issued shortly, the Central Bank said further in its monetary policy review.

The Central Bank said, considering the severity of the external shocks and continued disruptions to domestic economic activity, its Monetary Board was of the view that a comprehensive policy package containing both traditional and non-traditional measures, along with other initiatives that have an impact on the overall economy, is essential to counter such economic headwinds.