Colombian central bank begins cutting rates

Board splits over decision, as inflation remains above 10% while economy slows

Banco de la Republica
Central Bank of Colombia, Bogota
Rachael King

Colombia’s central bank lowered its policy rate by 25 basis points on December 19, to 13%, despite inflation that remains just within double digits. 

The decision ends a pause begun in June, and follows calls for looser policy from political and business leaders, including the country’s president. The Central Bank of Colombia’s (Banrep) board split 5–2, with the dissenters favouring holding the rate steady. 

It cut rates even though inflation was 10.15% year on year in November. This is below the

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