Colombia Leaves Rates Unchanged and Extends Dollar Purchases

Colombia kept borrowing costs unchanged for a second straight month as policy makers gauge whether Latin America’s lowest interest rate and a government stimulus package will reverse a slowdown in growth. It also extended a program of dollar purchases until September.

Banco de la Republica, led by Governor Jose Dario Uribe, held its benchmark interest rate at 3.25 percent today in line with the forecast of all 31 analysts surveyed by Bloomberg. Uribe said the decision was unanimous.