Colombia: Central Bank leaves interest rates on hold
October 28, 2011
At its 28 October monetary policy meeting, the Central Bank left its reference interest rate unchanged at 4.50% for a third consecutive month, as had been expected by the market. The Central Bank cited the still uncertain global economic outlook and the deceleration of the largest Asian and Latin American economies as the main driving factors behind its decision not to raise rates. That said, the Bank stated that it will resume monetary tightening if international confidence recovers. The next monetary policy meeting is scheduled for 25 November.