UPDATE 1-Colombia cenbank keeps key rate stable at 3 pct

(Adds details on decision)

BOGOTA, May 27 (BestGrowthStock) – Colombia’s central bank on
Thursday kept its benchmark interest rate at 3 percent, in line
with market expectations, as inflation remained within the
bank’s forecast range.

The decision to maintain interest rates came after the
bank’s move to cut the rate by 50 basis points last month in an
attempt to bolster the country’s economic recovery.

Inflation is under control and economic indicators, such as
industrial production and retail sales, are showing the Andean
country is rebounding after the global financial crisis.

“The inflation result for the last month is in line with
our team’s projections,” the bank said in a statement.

The central bank has forecast an inflation of 2 percent to
4 percent this year and below 2 percent next year. The
government expects the economy of Latin America’s No. 4 oil
producer to grow more than 2.5 percent this year.

Investment Analysis
(Reporting by Javier Mozzo in Bogota; Editing by Theodore
d’Afflisio)

UPDATE 1-Colombia cenbank keeps key rate stable at 3 pct