Further tightening may be needed in Colombia, IMF says
Current account deficit and inflation expectations may call for further action, fund feels
Monetary policy may need to be tightened further in Colombia, the International Monetary Fund has said – though it has welcomed the "resolve" of the central bank that has seen it hike by 250 basis points in nine months.
In April, the central bank stepped up the tightening cycle it had begun in September, raising its policy rate by 50bp to 7%. It was concerned the risks to the inflation outlook had increased.
"Although they are considered temporary shocks, the magnitude of the depreciation of the
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