Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
The Central Bank of Colombia (Banrep) reduced its policy rate by 50 basis points yesterday (October 31) to 9.75% in a 4–3 split decision.
The vote was identical to the last, with the three dissenting members on the monetary policy board wanting a 75bp cut.
In a statement, Banrep noted that year-on-year headline inflation declined to 5.8% in September from 6.1% in August. Core inflation remained stable at around 5.5%, it added.
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