Colombia stays on trend with 50bp hike

Banco de la Republica
Photo: Rachael King

The board of directors of the Colombian central bank raised the policy rate by 50 basis points at its December 17 meeting. This marks the third consecutive increase, bringing the rate to 3%.

The seven-member board unanimously favoured an increase in the rate. However, three of the seven members voted for a 75-point revision. In total, the central bank has raised the policy rate by 125 basis points this year.

In its press release, the central bank’s board said that “annual inflation in November

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