Central Bank of Colombia raises rates for fourth consecutive month
Bank raises benchmark interest rate by 25 basis points to 4.25% as 5% annual growth expected
The Central Bank of Colombia (CBC) raised its benchmark interest rate yesterday by 25 basis points to 4.25%, despite a monthly decline in inflation. The increase is the fourth by the central bank in as many months.
"Recent data have led to an upward revision in the projected growth of the economy in 2014," the CBC said in a statement. "GDP growth in the first quarter was higher than expected earlier, partly driven by consumption and investment in construction of civil works and buildings. The
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