Colombia central banker sees rate steady

Colombia's benchmark interest rate is approaching a neutral level and there is little reason to alter it, central bank board member Carlos Gustavo Cano said.

The board held the rate steady at 4.5 percent for a second month in September, leaving behind a period of monetary tightening to ward off inflationary pressure that followed strong economic growth in the first quarter.

Colombia's economy expanded less than expected in the second quarter, slowing to 4.3 percent and shrinking compared with the first three months of the year.

Source: Reuters