Two Latin American central banks raise rates

Central Bank of Colombia, Bogota
Central Bank of Colombia

Colombia: The Colombian central bank’s board continued a cycle of monetary tightening with a split decision to raise the benchmark rate by 1%.

On March 31, five members of the board voted for a 100 basis points increase, while the other two sought a 150bp hike. The board’s decision was its second consecutive 100bp increase. The central bank has increased the policy rate by 325bp since September 2021.

The central bank’s policy statement said inflation was stubbornly high, and reached 8% in

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