Sri Lanka's Central Bank implemented a significant 100 basis point interest rate hike to combat rising inflation and a depreciating rupee. The bank attributed these economic pressures partly to the U.S.-Israeli conflict with Iran.

The Central Bank of Sri Lanka (CBSL) raised the overnight policy rate to 8.75% ‌from 7.75%, blaming higher inflation and a depreciating rupee due to the U.S.-Israeli war ‌with Iran