BOGOTA, Sept 25 (Reuters) - Colombia's central bank is expected to keep its interest rate unchanged at its meeting in September, awaiting economic developments following the earthquake that struck the country in August, according to a Reuters poll released on Friday.
Despite persistent inflationary pressures, 19 of the 27 analysts projected that the benchmark rate would be held at 12% during the meeting scheduled on September 30.
It would be the second consecutive pause in borrowing cost, following rate hikes in January, March, and June that totaled 275 basis points, while there was no meeting in August.
Last month a large area in the country's southwest was struck by a powerful earthquake that destroyed homes, buildings, and infrastructure; government estimates that reconstruction will require over 30 trillion Colombian pesos ($8.9 billion)
Regardless of recent rising inflation, "several factors could temper the tone of the central bank board's meeting, including the appreciation of the exchange rate and the need for reconstruction in areas affected by the earthquake," Banco de Occidente told Reuters.
The Colombian peso has appreciated by 3.4% against the US dollar in the past three months <COP USD=R>
A minority of analysts believe the Central Bank will resume increasing rates after September's meeting to curb inflationary pressures, as El Niño weather phenomenon could drive up food and energy prices in the coming months.
On Thursday, the Bank of Mexico held its benchmark interest rate at 6.50% as expected, while last week Brazil's central bank cut interest rates by 25 basis points for a fifth straight meeting.
($1 = 3,366 Colombian pesos)
(Reporting by Nelson Bocanegra, writing by Paolo Laudani; Editing by Aida Pelaez-Fernandez)