Central Bank of Colombia Extends Policy Pause

June 28, 2013

After six 25-basis point cuts in Colombia’s main interest rate between July 2012 and February 2013, the ante was doubled to 50 bps at the March meeting, but the ensuing three meetings in April, May and now June resulted in no change to the 3.25% interest rate.  Growth has responded positively to the monetary stimulus and planned fiscal support.  With inflation resting on the 2-4% target floor and global uncertainties remaining high, officials unanimously chose to stay in a wait and see mode, watching how their economy responds to the policy support and how world developments evolve.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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