Colombia Monetary Policy Unchanged in November


Colombia’s Central Bank decided on November 27th to leave the benchmark interest rate on hold at 3.25 percent for the eight straight time, as widely expected.

The Board said that monetary policy actions are taken to ensure that inflation rate converges to 3 percent, as a low and stable inflation is the best contribution monetary policy can make to sustainable growth in output and employment. 

The bank maintained its inflation target for 2014 at the same 2 to 4 percent level, with 3 percent being the most desired one.

Third quarter GDP estimates remained unchanged at the range 3.8 percent to 4.5 percent, as well as those for 2013 (between 3.5 percent and 4.5 percent). 

Joana Taborda | joana.taborda@tradingeconomics.com
11/29/2013 6:58:54 PM