Colombia Holds Key Rate at 9.25% After Two Credit Downgrades
Colombia 's central bank resisted government pressure to slash interest rates a day after the nation's deteriorating fiscal outlook triggered two ratings downgrades.
The bank's board left the benchmark rate unchanged at 9.25% on Friday in a split decision, Governor Leonardo Villar told reporters in Bogota. Of 32 analysts surveyed by Bloomberg, 27 correctly predicted the move, while five had forecast a quarter-percentage-point cut.
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