Central Bank Ignores President’s Plea, Lifts Colombia Rate

Updated on
  • Colombia raises key rate to 7.75%, eleventh straight increase
  • Decision was in line with majority of forecasts by economists

Colombia’s central bank ignored a last minute plea by President Juan Manuel Santos and raised the benchmark interest rate for an 11th consecutive month as surging food prices pushed inflation to the fastest since 2000.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.