Central Bank of Colombia cuts rates and unveils liquidity support

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

The Central Bank of Colombia has cut its main rate by 50 basis points and unveiled new liquidity provisions to fight the economic impact of the coronavirus.

The rate cut on March 27 takes the policy rate to 3.75%. The central bank board said it made the cut to contribute to a future recovery in demand when the shock passes. The board added it “considers that the reduction in the interest rate will also contribute to alleviate the financial burden on households and businesses in the current

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