Monday, 03 March 2003 |
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The Central Bank of Sri Lanka will implement today the system of open market operations (OMO) using the overnight money market, the bank said.It gives the Central Bank more control over the reserve money in the financial system as the transactions under the OMO will be conducted at rates of interest determined in the market which are more consistent with the move towards market based instrument of monetary policy, Deputy Governor, Central Bank, W A Wijewardene told the Daily News yesterday. Full story Other Stories
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