Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
The Central Bank of Colombia cut rates to a new record low of 2% on August 31, in a bid to boost economic activity.
The 25 basis point move is the central bank’s sixth consecutive rate reduction. These actions have reduced the policy rate by 225bp since March 2020.
Lower inflation is giving the institution the policy space to sustain this monetary stimulus. In July, inflation rose year on year by 1.97%, and the average of the core inflation indicators is 1.76%.
Additionally, expected
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