Rates round-up: Latin American central banks battle persistent inflation

Colombian, Dominican and Nicaraguan central banks hike rates as inflation stays high

Central America and Caribbean Islands

Colombia: The Central Bank of Colombia increased interest rates by 150 basis points on July 29 as it aims to bring inflation down to the 2–4% target.

In June, inflation increased year on year by 9.7%, up from 9.1% in May, its policy statement noted. Additionally, core inflation excluding food and regulated prices rose from 5.9% to 6.1% over the same period.

Inflation expectations continue to rise. A survey of analysts carried out by the central bank found average inflation forecasts for 2022

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