| Colombia Central Bank May Keep Overnight Rate at 4.5 Percent |
| News - Americas |
| Written by Helen Murphy and Alexander Cuadros, Bloomberg |
| Friday, 25 September 2009 13:26 |
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Sept. 25 (Bloomberg) -- Colombia’s central bank will probably keep its benchmark interest rate unchanged for a third month as the economy shows signs of recovery and inflation remains below policy makers’ target.
The seven-member board, led by bank chief Jose Dario Uribe, will hold the interbank rate at 4.5 percent today, according to all 27 economists surveyed by Bloomberg. A decision is expected after 2 p.m. New York time. South America’s fourth-largest economy went into a recession for the first time since 1998 when gross domestic product fell 1 percent in the last three months of 2008, followed by contractions in the first two quarters of 2009. Uribe anticipates that seven straight rate cuts before July’s pause has bolstered consumer demand, underpinning a second-half rebound in growth. |