FX.co ★ Colombia Lowers Interest Rates to 12.25% in March 2024

In an effort to stimulate economic growth, the Central Bank of Colombia has decided to lower its key interest rate to 12.25% in March 2024. This marks a decrease from the previous rate of 12.75% set in February 2024. The decision to lower interest rates comes as the country aims to boost consumption and investment amidst global economic uncertainties.

The Central Bank's move was announced on 22 March 2024, following a comprehensive review of economic indicators and trends. This decision is expected to have an impact on borrowing costs for businesses and consumers, potentially encouraging more spending and economic activity in Colombia. Analysts will be closely monitoring the effects of this interest rate cut on inflation, exchange rates, and overall economic growth in the coming months.