Central Banks
Colombia Cuts Interest Rate to 10.75% in a Split Decision
- Mexico now has the highest interest rates among regional peers
- President Petro has called for bigger cuts to revive economy
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Colombia’s central bank cut interest rates by half a percentage in a split decision after a jump in inflation weakened the case for faster monetary easing.
Five of the seven board members voted for the move, which lowered the policy rate to 10.75%, bank Governor Leonardo Villar told reporters after the meeting. The other two argued for a deeper cut of three quarters of a percentage point.