Peace talks with Colombia’s EMC guerrillas to begin...
Human rights prosecutors attacked in northern Colombia
Colombia’s judicial branch thrown offline in major cyber...
7 years into peace process, Colombia has strategy...
Colombia’s estimated cocaine production reaches new record high
Colombia’s president wants end to sanctions on Venezuela
Colombia’s ranchers federation threatens to mobilize over land...
Court orders arrest of Colombia’s former Congress president
Colombia’s intelligence agency assassinated presidential candidate: prosecution
Colombia’s former army chief indicted for 130 extrajudicial...
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Increase in Colombia interest rate unlikely: Central bank board

by Toni Peters May 31, 2012
1.4K

Central bank board

An increase in Colombia’s benchmark interest rate is unlikely due to the financial crisis in Europe, a central bank board member told Reuters Wednesday.

Cesar Vallejo, a member on the board of Colombia’s central bank, said the financial crisis in Europe is threatening economic growth in the country.

“While there is uncertainty, risk, I think it’s unlikely that the bank will raise the rate again unless something very special happens like a positive external shock which stimulates the Colombian economy,” said Vallejo.

Vallejo also said that if necessary, the board would even cut the interest rate to encourage economic growth.

The central bank board last raised the benchmark rate in February 2012 by 25 base points to its current level of 5.25%, in response to inflationary pressure resulting from expanding consumer credit and favorable trade terms.

Since then, during meetings held in the final days of March, April and May the board decided to leave the interest rate unchanged.

Central Bankeconomyinterest rate

Contribute

Trending

  • Colombia’s judicial branch thrown offline in major cyber attack

  • Human rights prosecutors attacked in northern Colombia

  • Peace talks with Colombia’s EMC guerrillas to begin in October

For patrons

Downloads for patrons

Related articles

  • Colombia’s GDP and GNI

  • Inflation

  • Foreign trade

  • Twitter
  • Email
  • Rss

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion