Colombia continues tightening monetary policy
Central bank board unanimous on raising rates, but splits 5–2 on size of increase
The Colombian central bank raised interest rates by 50 basis points to 2.5%, in its October 29 monetary policy decision, its second increase this year.
The seven-member board of the Bank of the Republic was unanimous in its decision to raise rates. The board split on the question of how much, with two members favouring a 25bp increase.
On September 30, the central bank raised its policy rate by 25bp. At that meeting, three of the seven members favoured a 50bp hike.
In its announcement, the
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