Colombia's Uribe explains why he is still raising rates

Jose Dario Uribe at Banco de la Republica de Columbia

Banco de la República de Colombia raised its overnight lending rate by 25 basis points to 5% on January 30, making it one of a declining number of central banks still raising benchmark interest rates. The Colombian central bank stopped its monetary tightening during the third quarter of last year amid fears of a slowdown in world markets, but resumed raising rates with a 25bp increase in November ahead of its latest move this year.

"When comparing the monetary policy responses of different

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