Banco de la Republica, Colombia minutes
The board of directors of the Banco de la Republica Colombia decided unanimously to leave the intervention rate at 9.75%, the minutes of the 20 June meeting show.
The board judged that in May core inflation indicators and expectations of inflation had risen above target. However, a slowdown in growth meant that the board choose not raise rates.
The board also decided to step up the accumulation of international reserves throughout the remainder of 2008 to prepare for a likely deterioration in
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