Colombia central bankers loosen collars

The technical team at Colombia’s central bank sees a more expansive interest rate next year than that predicted by the market, the team’s director said on Wednesday.

Policymakers have held the benchmark interest rate at 4.25 percent since April 2018 to bolster sluggish growth. Analysts have said they expect the board to hold borrowing costs until the middle of next year before raising them, Reuters reports.