Central Bank of Colombia Keeps Rate on Hold

Colombia’s Central Bank decided on October 25th to keep the main interest rate steady at 3.25 percent for the seventh straight month. The Board cited stable economic growth and low inflation.

In the third quarter, Colombian GDP is expected to accelerate at a faster pace than in the first half of the year, mainly driven by investment, the central bank said. The construction sector, agriculture, mining and quarrying and trade are also expected to boost growth, while several indicators suggest that consumption will remain steady. The central bank expects growth to be betwen 3.5 percent and 4.5 percent for the full year. 

In September, the inflation rate remained unchanged at 2.27 percent, below the target range. Policymakers expectations point to a target of 3 percent.

Krisztina Györffy | krisztina@tradingeconomics.com
10/25/2013 7:49:31 PM