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Cardenas Says Colombia Isn’t Considering Interest Rate Increase

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Colombian policy makers expect inflation to slow back to within its target range toward the end of the year and aren’t considering any increase in interest rates for now, Finance Minister Mauricio Cardenas said.

The surge in inflation this year to the fastest pace since 2009 is caused by “short-lived supply shocks,” particularly to potatoes and rice, Cardenas said today, in an interview in Paris.