Colombia hikes rates in split decision
Meeting was last for finance minister Ocampo, who lost job in reshuffle
In a split decision, the board of Colombia’s central bank voted to hike its policy rate by 25 basis points on April 28.
The move brings the rate to 13.25%, and is the bank’s 14th increase since September 2021. The central bank has raised rates by a total of 1,150bp in this cycle.
Four members of the seven-person board supported hiking the rate, while two members voted to hold and one backed a 50bp hike.
The Colombian finance minister sits on the central bank board. This will be the last
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