Colombia
Monetary Tightening Paused in Colombia
August 22, 2011
In the face of intensifying global uncertainties, officials at the Central Bank of Colombia retained a 4.5% key overnight interest rate. Most analysts were looking for a seventh consecutive monthly tightening. The cyclical low of 3.0% had been maintained from end-April 2010 until an initial hike this past February, which was followed with increases in […] More
Colombia’s Fourth Consecutive Central Bank Interest Rate Hike
May 30, 2011
The Central Bank of the Republic of Colombia intervention rate was increased by another 25 basis points, matching prior moves in February, March and April. The rate, which now becomes 4.0%, had been at 3.0% until February 25 following eight reductions totaling 700 basis points between December 2008 and April 2010. Inflation is now running […] More
Rate Raising Comes to Colombia Finally
February 25, 2011
The Colombian interest rate was raised today by 25 basis points in the first advance since July 2008. The benchmark central bank rate had been 3.0% since a 50-basis point cut on April 30, 2010 that culminated and 8-step, 700-basis point reduction beginning in December 2008. 600 bps of that drop was done in 2009. […] More
No Change in Colombian Base Rate
December 17, 2010
The Central Bank of the Republic of Colombia left its monetary policy rate at 3.0%, the level since a 50-basis point cut last April. That was the only rate change in 2010, but 600 basis points of reduction were implemented during 2009. Prior to an initial rate cut of 50 bps in December 2008, the […] More
Mexican and Colombian Key Interest Rates Unchanged After August 20th Policy Meetings
August 24, 2010
Mexico’s overnight central bank interest rate was held at 4.5%, the setting since July 2009, as was expected. GDP advanced 7.6% in the year to 2Q10, while CPI inflation had an on-year 3.6% rate of increase in July. A statement from the central bank promised to watch measures of expected inflation and the output gap. […] More
Colombian Base Rate Remains at 3.0%
May 27, 2010
The Colombian Central Bank of the Republic is keeping a 3.0% base rate. In a newly released statement, officials attributed slightly higher CPI inflation of 2.0% in April to transitory special factors, noted that core inflation is in the lower part of a 2-4% target band, and spoke about the still uncertain impact of Europe’s […] More
Colombia’s Unexpected Rate Cut
May 3, 2010
Colombian bond yields and the peso fell today following Fridays tenth rate cut by the Bank of the Republic of Colombia since December 2008 but first since November 2009. The resumed easing cycle was not expected by analysts and justified by monetary authorities on the grounds of evidence of falling actual and expected inflation. Core […] More
Rate Decisions in Russia and Colombia
March 26, 2010
Bank Rossii implemented another 25-basis point cut of its one- and seven-day repo rates, this time to 7.25%, and its refinancing rate to 8.25%. These were the twelfth cuts since April 2009. The last one had been announced February 19. As an oil exporter, Russia experienced a very severe economic contraction but has benefited from […] More
Colombian Monetary Policy Not Changed
January 29, 2010
The Central bank of Colombia, as analysts projected, left its intervention interest rate at 3.5% for a second straight meeting. Previously, the rate had been cut by 50 basis points each in June, September and November of 2009, and before that officials had implemented cuts of 100 bps in four consecutive months (February through May) […] More
