Colombia central bank to keep key rate steady

Colombia's central bank board will likely hold its benchmark interest rate steady at 4.5 percent at its meeting this week as economic indicators remain within government goals, Finance Minister Mauricio Cardenas said.

Cardenas, who represents the government on the bank's seven-member board, said inflation is near the bank's target of 3 percent, economic growth is close to potential, and currency depreciation is buoying exporters.

The government estimates gross domestic product will expand 4.7 percent this year, while the central bank sees growth of 5 percent.

Source: Reuters