Central Bank of the Republic of Colombia Again Keeps Key Interest Rate Unchanged
February 28, 2014
The last change in Colombia’s main central bank lending rate was a 50-basis point cut on March 22, 2013 that culminated a string of seven reduction beginning in July 2012 and cumulating to 200 basis points. Previously, the rate was raised by 225 basis points between July 2011 and July 2012. Colombian CPI inflation stood at 2.1%, near the floor of the central bank’s 2-4% target, and real GDP of 5.1% between 3Q12 and 3Q14 is expected to be nearly a percentage point greater than the growth rate for full-2013. The peso has been falling by policy design.
Copyright 2014, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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