Rates round-up: Colombian central bank holds at 13.25%

Dominican Republic cuts rates, while other central banks in the region stay on hold

Banco de la Republica
Central Bank of Colombia branch in Cartegena
Rachael King

Colombia: The Central Bank of Colombia held rates at 13.25% at its monetary policy meeting on June 30.

The central bank’s board of directors voted unanimously to halt the rapid tightening cycle it has implemented to tame above-target inflation.

Colombia is the last major Latin American central bank to stop rate increases, following Brazil, Mexico, Chile and Peru.

“Annual inflation in May continued to decrease, primarily driven by the fall in food inflation, despite the rises in inflation

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