On the other hand, Bangladesh continued tightening its monetary policy from 2011, and the policy rate was raised by 100 basis points in fiscal year 2012 to restrain inflationary pressures. Consumer credit was tightened through administrative measures. Similarly, policy rates were raised in Sri Lanka in February and April 2012 to curtail trade-related credit to reduce trade and current account deficits as well as to contain inflationary pressures. However, the policy rate was lowered by 25 basis points in December 2012 as GDP growth was decelerating sharply.