Colombia Rates Kept on Hold

As expected, Colombia’s central bank kept its monetary policy rate at 3.5%, saying it expects the current level to continue to support growth in the context of a solid financial system.” Barclays expects the bank to begin raising rates in July, although it says there is a risk that the hike may happen even later. Goldman Sachs also sees rates on hold until at least 2H2010 with a probability that the bank may not raise rates at all during the year.