Latin American rates: Colombia adopts highest rate since 2001

Argentina holds steady again, while Nicaragua raises rates

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

Colombia: The Central Bank of Colombia raised its policy rate on December 16, adding 100 basis points to bring it to 12%. The rate is now the highest since 2001.

The board split 4–1–1 on its decision, with one member favouring a 125bp hike, and one favouring a 25bp increase. There is currently a vacancy on the board, as a new appointee, Olga Lucía Acosta, has not yet taken office.

The Bank of the Republic reported that headline inflation reached 12.5% in November, more than four times the 3%

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