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 base rate had been at 10%. Colombian inflation has risen to 2.6%. However, that’s still within the 2-4% target band, and officials attribute such to rainy weather and likely to be a temporary spike.
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission.
Tags: Colombia
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