Colombia central bank holds benchmark interest rate steady at 3.25 pct, as expected

BOGOTA Fri Feb 28, 2014 1:31pm EST

BOGOTA Feb 28 (Reuters) - Colombia's central bank on Friday held its benchmark lending rate unchanged for an eleventh straight month as expected as the board seeks to provide extra stimulus to the economy while inflation remains benign.

The seven-member policymaking board maintained borrowing costs at 3.25 percent, as forecast by all 30 analysts in a Reuters survey earlier this week.

While inflation remains below the bottom rung of the bank's 2 to 4 percent target range, economic growth has started to pick 0up. Economists expect rates to increase again any time from May onwards.