Colombia holds rates amid government pressure for cuts
Banrep board divided after three new members join; country’s president says decision “unacceptable”
Colombia’s central bank yesterday (March 31) held its policy rate at 9.5% in a split decision amid above-target inflation and calls from the government to ease its monetary stance.
Four of the seven Central Bank of Colombia (Banrep) board members voted for the hold. The other three voted for a half-point cut.
In a statement, the board said the decision reflected a “cautious approach” to monetary policy. It added that it expected new information “in the coming months” to provide “further evidence
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