Colombia continues to hold as inflation inches down

The board was divided once more in a 5–2 vote

Banco de la Republica
Rachael King

The Central Bank of Colombia maintained its policy rate at 13.25% at its October 31 meeting. The seven-member board voted 5–2 to hold rates, with the minority preferring a 25 basis point cut.

The central bank paused its tightening cycle in June, after increasing the policy rate by 11.5 percentage points. The September policy decision also produced a 5–2 split in favour of holding the rate at 13.25%.

In its statement, the board noted inflation had fallen again. The headline figure for September

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