Posts Tagged ‘central bank colombia’

Central Bank lowers interest rates

Lunes, enero 28th, 2013

With an interest rate reduction from 4,25 to 4,0 percent, Colombia’s Central Bank will both boost the economy, which experts say isn’t growing to its full potential, and encourage Colombians to accumulate more debt.

“Each person and bank must take on the task of assessing if they are able to take on more debt and how to use available credit options”, said bank chief, Jose Dario Uribe.

Uribe also said that the decision was made considering that, on average,  the economies of Colombia’s commercial partners have grown as much as expected. The Board of Directors also decided to extend daily dollar purchases thru May and expects to accumulate 3,000 million dollars, with daily purchases of no less then 30 million dollars.

Bank lowers rates to 4%

Viernes, septiembre 25th, 2009

The Board of Directors of Colombia’s Bank of the Republic decided to reduce its intervention rate by 50 basic points, placing it at 4 per cent.

In a statement released yesterday, the co-governors of the Central Bank said the reduction is meant to consolidate the economy’s recovery and reduce possible negative effects from restrictions imposed on trade and the appreciation of the peso.

At the same time they ruled out new reductions and said “stability from the intervention rate is expected for the near future”.

Issuer to cut 50 points

Jueves, junio 18th, 2009

The Central Bank of the Republic of Colombia will cut its benchmark interest rate by 50 basis points today, easing the pace of the last few months but still pressured by deteriorating financial indicators, several analysts confirmed Wednesday.

If the forecast for the majority of the market proves accurate, the Issuer’s rate would place itself at 4,5 per cent, reaching an accumulated descent of 550 basis points since December of 2008, when the Central Bank started its expansion cycle.

In Reuters’ survey of analysts from 32 investment banks, financial institutions and brokerage firms, 26 of those consulted (81 per cent) said they expect a cut of half a percentage point.

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