Colombia central bank board holds rate at 9.5% on inflation, external concerns
BOGOTA (Reuters) -Colombia's central bank held the benchmark interest rate at 9.5% on Monday, surprising the market, which expected policymakers to resume cuts to borrowing costs despite inflation pressures and a difficult fiscal situation. Three board members voted for a 50-basis-point cut. "The risks of inflation pressures persist, associated with fiscal challenges and external uncertainty," the board said.