Sri Lanka's central bank has reduced the repo and reverse repo rates by 25 basis points each to 7.5 and 9.5 percent respectively.In a surprise move on Wednesday, the bank lowered the rates to help economy fight a slowdown.The GDP growth has fallen from a high of 8.3% last year to 6.8% this year.The government was forced to adopt a tight monetary policy early this year due to a balance of payment crisis.This was followed by increase in duties on imports of a number of items. Central Bank governor Ajith Cabraal said that though the bank had originally planned to make cuts from January next year, but reduced inflationary pressures had helped the bank to move more quickly to a pro-growth stance.