Colombia cuts rates by 50 basis points to 12.25%
Two board members back higher rate cuts amid positive economic outlook
The Central Bank of Colombia’s board (Banrep) cut its policy rate by 50 basis points to 12.25%, it announced on April 2.
This is the third consecutive rate cut after reducing its rate by 25bp twice, in December and January. The interest rate peaked at 13.25% between April and December 2023.
The central bank’s board of directors has seven rate-setters, one of whom is the minister of finance.
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