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Economics
Central Banks

Colombia Slows Pace of Rate Hikes, Surprising Most Economists

  • Central bank lifts its benchmark interest rate to 12.75%
  • Colombian peso is outperforming nearly all peers this year
The Central Bank of Colombia headquarters in Bogota, Colombia.

The Central Bank of Colombia headquarters in Bogota, Colombia.

Photographer: Nathalia Angarita/Bloomberg
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Colombia’s central bank slowed the pace of monetary tightening and signaled that interest rate rises are nearing an end as the economy’s growth outlook dims.