Colombia Holds Interest Rate Steady

Colombia's central bank maintained its benchmark interest rate at 3.25 percent as expected as inflation continues to converge toward the bank’s 3.0 percent target and the economy is poised to pick up pace in 2014.

"Interest rates remain at levels that stimulate aggregate spending and hopefully allow GDP to approach the productive capacity of the economy in 2014 as inflation converges towards the 3% target," the bank said in a statement accompanying its decision, adding that it expected 2013 economic growth to be similar to that of 2012.

The Central Bank of Columbia |
1/31/2014 8:19:53 PM