Colombia central bank to hold 1.75% rate after seven months of cuts

Colombia’s central bank will hold the benchmark interest rate steady at its October meeting, ending seven consecutive months of cuts which took borrowing costs to a historic low, analysts said in a Reuters poll on Thursday. All 13 analysts agreed the seven-member board will hold the interest rate at 1.75% at its Oct. 30 meeting, in order to focus its attention on potential future inflation control after months of efforts to buoy up the economy. Consumer prices were up 0.32% in September, above market expectations, as the economy began to recover after more than five months of a national lockdown meant to stem coronavirus infections.

Source: Nasdaq