# Colombia's central bank holds interest rate, ends reserve accumulation | Financial Post

> Colombia's central bank kept its benchmark rate unchanged at 4.25%, a unanimous decision in line with analyst expectations, and is expected to hold until next year. It raised its 2019 GDP growth estimate to 3.2% while citing inflation of 3.82% and peso depreciation as temporary. The bank also ended its dollar-buying reserve program after accumulating $2.8 billion.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/56847-colombia-s-central-bank-holds-interest-rate-ends-reserve-accumulation-financial
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A steady rate and an end to reserve purchases mean less central bank dollar demand in Colombia, a modest macro signal for feed importers buying in pesos. The peso's 8% drop raises the local cost of imported feed ingredients.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/colombias-central-bank-holds-interest-rate-ends-reserve-accumulation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.