President Ranil Wickremesinghe said `
`Limits will be imposed on deposit rates to reduce interest rates.”
“High-interest rates are beneficial to some but it contracts credit and slows the economy,”
President Wickremesinghe told parliament. Senior citizens who live off interest gathered against savings will be hard hit.
President Wickremesinghe has already raised taxes to reduce the deficit and money printing and the cost of living are skyrocketing