Colombian central bank cuts interest rate to 5.25 percent
At its monthly meeting on the last day of August, the central bank of Colombia voted to lower the nation’s key interest rate by 25 basis points to 5.25 percent due to ongoing economic weakness.
This expected cut equals the 25-point reduction in July and marks the eighth time in the past nine months that the Banco de la República has taken action. The current cutting cycle has now dropped the benchmark interest rate from a high of 7.75% last November to its current 5.25%.
Source: Finance Colombia