Bank of the Republic maintains interest rates at 11.25%
The Bank of the Republic kept the benchmark interest rate stable at 11.25%. The decision had the unanimous vote of the seven members of the board.
TL;DR
- The Bank of the Republic's board unanimously voted to maintain the reference interest rate at 11.25%.
- The decision was made to seek agreement and consensus despite diverse opinions among board members.
- This move comes after previous interest rate hikes and disagreements with the president.
- The Minister of Finance acknowledged his opinion that rates should fall but supported the decision for signaling purposes.