BOGOTA (Reuters) – Colombia’s central bank board cut the benchmark interest rate by 50 basis points to a historic low of 2.75% on Friday, as policymakers continue trying to stoke the economy during the nationwide coronavirus quarantine.
A majority of analysts in a Reuters survey last week had expected cuts of 50 basis points, with a minority predicting cuts of other amounts.
The decision was backed by five of the seven board members.
(Reporting by Julia Symmes Cobb; Editing by Leslie Adler)
