Colombia sees benefit of weaker currency as inflation stays at record lows

Jose Dario Uribe at Banco de la Republica de Columbia
Jose Dario Uribe at Banco de la Republica de Columbia

The Central Bank of Colombia's inflation targeting policy and floating exchange rate regime has played a big role in sheltering the country from the most recent bout of emerging market turmoil, the bank noted in minutes released on Friday, but also emphasises the uncertain impact of further tapering of asset purchases by the Federal Reserve.

The bank's board of directors unanimously agreed to maintain its benchmark interest rate at 3.25% earlier this month – the lowest among Latin America's

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