Sri Lanka, May 21 -- The Central Bank of Sri Lanka (CBSL) may raise interest rates by at least 50 to 100 basis points next week, equivalent to an increase of 0.5% to 1%, Samagi Jana Balawegaya Member of Parliament Harsha de Silva told Parliament today (21).

Addressing Parliament, MP de Silva warned that any increase in interest rates would directly result in a higher tax burden on the public.

He further stated that the Ministry of Finance, the Central Bank, and the Treasury must adhere to proper market policies, urging the relevant authorities to act responsibly.

The MP cautioned that failure to do so could further deepen the ongoing economic cycle and undermine financial stability.

"No matter how much is said on political stages, the...