Colombia backs down on interest-rate policy

Colombia’s central bank today decided to lower the nation’s benchmark interest rate by 25 basis points from 7.5 to 7.25 percent.

This is the second time in three months that the Banco de la República, which named Juan José Echavarría as its new general manager in January, has opted to cut the rate, a policy reversal from the hikes that began in mid-2015.

Source: Finance Colombia