The 90-Day DTF Interest Rate: Why Does It Remain Constant?

Borradores de Economia
Number: 
371
Published: 
Classification JEL: 
E42, E52, E61, E63
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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The 90-day DTF rate is the main benchmark interest rate in Colombia. Since mid-July 2002 this rate has remained more or less constant at around 7.8 percent. More importantly, it did not react to any of two 100-basis-point increases in the overnight repo