Sri Lanka may keep rates steady

Sri Lanka’s stock market closed down on Monday in thin trading volume as investors awaited the latest central bank announcement on monetary policy, expected to keep rates steady for a fourth straight month, a Reuters poll showed. The Colombo Stock Exchange’s main index lost 0.06 per cent, or 2.97 points, to end at 4,928.50. “The interest rate decision will be crucial as investors may shift to fixed-income instruments if the central bank raises the policy rates further,” said a stockbroker on condition of anonymity. The central bank announcement is due today (Tuesday). Top conglomerate John Keells Holdings ended 0.4 per cent down. From:Gulftoday