Colombia bucks emerging markets trend on rates

Colombia's central bank left its benchmark interest rate steady for a fourth straight month on Friday as it gauged the impact of slowing world growth and Europe's debt crisis on the local economy, where inflation remains under control.

In a majority decision, the seven-member board, led by Jose Dario Uribe, held the overnight rate at 5.25 percent.

At least one policymaker and business leaders have indicated in recent weeks they want a cut in borrowing costs, which would bring the country more in line with other emerging markets.


Source: Reuters