Sri Lanka's central bank has implemented a new single benchmark interest rate of 8% in order to stimulate economic recovery after a severe crisis.

This adjustment effectively reduces the policy interest rate by approximately 50 basis points, with the aim of promoting growth in the struggling economy.

The central bank's decision demonstrates its dedication to revitalizing economic activity and addressing the challenges faced by the nation.

It is anticipated that this move will create a more favorable environment for investment and consumer spending, which are crucial for the country's recovery trajectory.