UPDATE 1-Colombia cenbank rate should stay stable-finmin

(Adds minister comment)

BOGOTA, March 26 (BestGrowthStock) – Colombia’s central bank should
keep its benchmark interest rate stable at 3.5 percent at its
policy meeting on Friday because of current economic conditions
and inflation, the country’s finance minister said.

A Reuters poll this week found all analysts surveyed were
forecasting the bank would keep its rate unchanged for the
fourth consecutive month after cutting by 650 basis points from
December 2008 to spur economic growth.

“There is no reason to think of any different position and
today’s economic conditions, slow economic growth, monetary
behaviour and inflation allow for stability in monetary
policy,” Finance Minister Oscar Ivan Zuluaga told Caracol

His comments came a day after the government decided to
keep its economic growth target for 2010 unchanged at 2.5
percent after the Andean country registered growth of 0.4
percent last year.

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UPDATE 1-Colombia cenbank rate should stay stable-finmin