Colombia cuts rates by 50bp in split decision
Uncertainty over fiscal budget prevents further easing, analysts say
Colombia’s central bank on Monday (September 30) reduced its policy rate by 50 basis points to 10.25% in a 4-3 split decision.
The three dissenting members on the monetary policy board voted for a 75bp cut. The decision was closer than at the previous meeting in July, when the board voted 5–2 for a 50bp cut.
In a statement, the Central Bank of Colombia (Banrep) said inflation was “below market expectations”. Year-on-year headline inflation stood at 6.12% in August, down from 6.86% in the previous
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