Colombia Rates Stay at 3%

Colombia’s central bank has left the monetary policy rate at 3.00% as expected as figures for inflation in May came in at 2.07%, 9bp higher than in April, but below market expectations. Local brokerage Corredores Asociados says liquidity is adequate and allows for the economy to continue recuperating without generating inflationary pressures. Morgan Stanley sees the rate reaching 4.25% by the end of the year.