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The European Central Bank left its key interest rates unchanged on Thursday, but signaled policymakers are gaining confidence on inflation returning to the 2 percent target and could lower rates in coming months.

Sri Lanka's central bank unexpectedly reduced its benchmark rates on Tuesday to support the economic recovery. The Monetary Policy Board of the Central Bank of Sri Lanka, led by Governor Nandalal Weerasinghe, decided to cut the Standing Deposit Facility Rate by 50 basis points to 8.

The Turkish central bank left its benchmark rate unchanged at the first policy meeting under the governorship of Fatih Karahan after a slew of rate hikes, and signaled that the rate will be maintained at the current level or will be tightened further in case of persistent deterioration in the inflation outlook.

China lowered its longer-term benchmark lending rate at a slightly sharper than expected pace on Tuesday, in an attempt to support the ailing housing market. The People's Bank of China cut its five-year loan prime rate, the benchmark for mortgage rates, to a record low 3.

The Reserve Bank of Australia decided to keep its benchmark interest rate unchanged as expected on Tuesday but suggested that another rate hike cannot be ruled out, pushing forward the market expectations about the timing of the policy easing to the second half of the year.

Singapore's central bank left its monetary policy unchanged at the first policy meeting of the year as inflation is estimated to fall and the economic growth is expected to pick up this year.

Asian markets mostly fell Monday as investors turn their attention to a key US inflation report later in the week, hoping for a reading that will ease concerns about the Federal Reserve's interest rate plans.Traders have been in retreat over the past week after a string of readings suggested the economy and labour market remained resilient despite more than a year of monetary tightening.

The Reserve Bank of India decided to leave its benchmark interest rates unchanged for the second straight meeting on Thursday as inflation moderated further and previous rate hikes are set to keep inflationary pressures contained over months ahead.