Reported 9 months ago
Colombia's central bank reduced its benchmark interest rate to 11.25% despite government pressure for faster monetary easing to stimulate economic growth. The decision was supported by four out of seven board members, with others advocating for a larger cut. The bank aims to achieve target inflation by mid-2025 while boosting economic recovery. Despite calls from President Gustavo Petro and others for accelerated easing, the bank maintains a cautious approach. Colombia currently holds the highest benchmark interest rate in the Americas, with forecasts for modest economic growth.
Source: YAHOO