Colombia holds rates, extends dollar program

Colombia holds rates, extends dollar program

Economy & Policy

Colombia kept its benchmark interest rate steady at 3.25% on Friday and decided to continue buying dollars after the peso rallied last week. Inflation expectations and economic growth seemed to be moving toward the target, BanRep said in a statement to explain the decision. “Interest rates continue at levels that stimulate aggregate expenditure and are likely to help production so that it reaches the economy’s productive capacity while inflation moves toward the 3% target,” the statement said. R

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