Colombia's central bank holds rate at 12.25% and will buy US$2 billion from the government
The board of Colombia's Banco de la República decided to keep its policy rate at 12.25%, the level held since October, without raising or cutting it for now. It also announced the purchase of 2 billion dollars from the national government to build up international reserves. In the operation the state sells those dollars to the central bank and receives the equivalent in Colombian pesos, more than 6 trillion pesos depending on the exchange rate used, to meet its liquidity needs.
In 40 seconds
- The central bank's board kept the policy rate at 12.25%, the level in place since October.
- Banco de la República will buy US$2 billion from the government to build up international reserves.
- The government will receive the equivalent in pesos, more than 6 trillion depending on the exchange rate used, to meet liquidity needs.
Read the full story at Noticias RCN
IASummary generated by artificial intelligence from a story by Noticias RCN. It may contain errors: the original source prevails.
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