Colombia continues tightening monetary policy

Banco de la Republica
Central Bank of Colombia, Bogota
Photo: Rachael King

The Colombian central bank raised interest rates by 50 basis points to 2.5%, in its October 29 monetary policy decision, its second increase this year.

The seven-member board of the Bank of the Republic was unanimous in its decision to raise rates. The board split on the question of how much, with two members favouring a 25bp increase.

On September 30, the central bank raised its policy rate by 25bp. At that meeting, three of the seven members favoured a 50bp hike.

In its announcement, the

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