Colombia holds interest rate at 4.75 percent, as expected

BOGOTA, Sept 28 Fri Sep 28, 2012 3:30pm EDT

BOGOTA, Sept 28 (Reuters) - Colombia's central bank held its benchmark interest rate steady on Friday as expected after above forecast second quarter growth gave the authority room to pause rate cuts.

Faster growth in Latin America's fourth-biggest economy led the bank to keep its overnight lending rate at 4.75 percent after two straight cuts to protect Colombia from a slide in overseas demand.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.