28 January 2013

COLOMBIA : CBank Cuts Benchmark Interest Rate...To 4%.


      Colombia now has the lowest benchmark interest rate in Latin America.
      Its central bank lowered the rate...by 25 bps...to 4%...because of a slowing inflation... below the target rate of 3%.
      The cbank has lowered the benchmark in 5 of the last 7 meetings.
      Colombia has the slowest growing economy in the Andean region.
      The central bank projects 4% growth in 2013.
      An aggressive plan to spend at least $30 million daily...to weaken the peso/ COP...up 9 % to 1,779 in the past 13 months...was also announced.
     The CBank's peso target is estimated at 1,980 per usd.