Colombia Holds Key Rate at 4.25% as Recovery Needs Support
- Growth lags Peru and Chile but outpaces Brazil and Mexico
- February unemployment rate was the highest seen since 2013
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Colombia left its benchmark interest rate unchanged as policy makers remain wary of derailing the weak, jobless recovery by raising borrowing costs too soon.
The seven-member board voted unanimously to leave the policy rate unchanged at 4.25 percent for a twelfth straight month, bank Governor Juan Jose Echavarria said Friday after the meeting. The decision was forecast by all 24 analysts surveyed by Bloomberg.