• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote

Colombia's central bank holds interest rate at 12.25%

FinanceColombiaDiario del Sur30 s readAI summary
Image: Diario del Sur

Banco de la República decided this Friday, October 30, to keep its monetary policy interest rate at 12.25%, amid concerns over inflation and the performance of Colombia's economy. The board adopted the decision by majority, with four votes to hold and three in favor of a 25-basis-point hike. Among the factors analyzed was annual inflation in September, around 6.3%, above the central bank's 3% target.

In 30 seconds

  • The policy rate stays at 12.25%, per the decision taken on Friday, October 30.
  • The board voted 4 to hold and 3 to raise the rate by 25 basis points.
  • Annual inflation in September stood around 6.3%, against a 3% target.
Read the full story at Diario del Sur

IASummary generated by artificial intelligence from a story by Diario del Sur. It may contain errors: the original source prevails.

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