Colombia hikes rates in split decision

Meeting was last for finance minister Ocampo, who lost job in reshuffle

Central Bank of Colombia, Bogota
The Central Bank of Colombia

In a split decision, the board of Colombia’s central bank voted to hike its policy rate by 25 basis points on April 28.

The move brings the rate to 13.25%, and is the bank’s 14th increase since September 2021. The central bank has raised rates by a total of 1,150bp in this cycle.

Four members of the seven-person board supported hiking the rate, while two members voted to hold and one backed a 50bp hike.

The Colombian finance minister sits on the central bank board. This will be the last

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