Colombia Central Bank Holds Rate at 12.25 Percent
Colombia central bank board voted to hold its benchmark interest rate at 12.25 percent amid slower economic growth. The board also approved a two billion dollar reserve purchase from the government to shore up financial reserves during a period of high uncertainty.
Colombia's central bank held its benchmark interest rate at 12.25% on Friday, while approving a $2 billion foreign reserve purchase. The decision on Friday afternoon reflects persistent public finance uncertainty and slower economic growth expectations. Investors are monitoring upcoming fiscal reforms and inflation data to gauge whether borrowing costs have peaked.
