Central Bank of Colombia minutes reveal dispute

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Minutes from the Central Bank of Colombia's board of director's meeting on February 24 show there was a disagreement about whether to raise the benchmark rate or not. The eventual decision was to raise the rate by 25 basis points.

The majority of the Board members thought it appropriate to raise the policy interest rate taking various factors in to consideration. These included the recent information showing that in the fourth quarter of 2011, the Colombian economy continued to show strong

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