Colombia central bank to keep rate stable, won't cut until December: Reuters poll

Colombia central bank to keep rate stable, won't cut until December: Reuters poll

BOGOTA - Colombia's central bank board will keep its interest rate stable at its meeting next week, a Reuters poll forecast on Monday, amid uncertainty over the impact of the El Nino weather phenomena on inflation and gasoline price pressures.

A majority of analysts in last month's survey had projected the first rate cut would take place in October.) said in a note, adding inflationary risks include"a larger-than-anticipated effect of the El Nino phenomena, a stronger shock in energy prices and an important increase in the minimum wage." Colombia's inflation rate eased to 10.99% in September from 11.3% in August, though it remains more than three times the target rate of 3%.

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