July 29, 2013
Colombia held its benchmark rate at 3.25% for the fourth month in a row whe
Colombia held its benchmark rate at 3.25% for the fourth month in a row when its central bank met Friday, in line with market expectations. Barclays notes that Banrep cut its growth forecast to 4.0% from 4.3%, but says it doesn’t see rate cuts on the horizon. It adds that hikes are unlikely before year-end. “We forecast Colombia’s policy rate unchanged at 3.25% in coming quarters,” says Itau.