Colombia Keeps Rates on Hold

Colombia Keeps Rates on Hold


As expected by the market, Colombia's central bank kept its monetary policy rate unchanged at 3.5% Friday, saying that sticking at this level will help to stimulate economic growth. The bank also says it took into account the downward trend in inflation, which as of November was 2.4% on an annual basis. In November 2008, annual inflation stood at around 8.0%. As a result of the drop in inflation, the bank has revised its inflation target. While the target for 2009 was between 4.5% and 5.5%, in 2

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