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Cano Says Colombia Needs Expansive Policy for Very Long Time

Feb. 28 (Bloomberg) -- Colombian monetary policy needs to remain expansive for a “very long time”, central bank co-director Carlos Gustavo Cano said today in an interview on Javeriana Radio.

“The principles that we follow indicate that there is a space to continue with an expansive posture and, not only is there space to continue an expansive posture, but I feel there is a need to continue with this posture for a very long time.”

Colombia’s economy has a potential growth rate of 4.8 percent, and is likely to grow less than that in 2013, Cano said.

To contact the reporter on this story: Oscar Medina in Bogota at omedinacruz@bloomberg.net

To contact the editor responsible for this story: Matthew Bristow at mbristow5@bloomberg.net

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