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| 5/15/2009 12:00:00 AM

Colombia Ctrl Bk: Conditions Exist For More Rate Cuts

May 15 -- The Colombian central bank's board said at its April 30 meeting that conditions exist to continue cutting rates in 2009, after it voted to cut its key rate by a full percentage point, according to the minutes of the meeting released Friday.

"Recent developments in Colombia and throughout the world make for a low-risk balance in terms of economic activity and inflation," the minutes said. "This allows the Board to continue implementing a policy designed to reduce the Central Bank's intervention rates."
The central bank voted unanimously to cut its key rate by one percentage point to 6% at its monetary-policy meeting as economic activity weakened at a faster-than-expected pace and as inflation continued to slow.
 
Read more here.
 
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