Colombia cuts rates by 50 basis points to 12.25%

Two board members back higher rate cuts amid positive economic outlook

Central Bank of Colombia, Bogota
Central Bank of Colombia, Bogota

The Central Bank of Colombia’s board (Banrep) cut its policy rate by 50 basis points to 12.25%, it announced on April 2.

This is the third consecutive rate cut after reducing its rate by 25bp twice, in December and January. The interest rate peaked at 13.25% between April and December 2023.

The central bank’s board of directors has seven rate-setters, one of whom is the minister of finance.

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