Colombian central bank holds rates for second meeting

Board stresses inflation remains higher than in advanced economies and Latin American neighbours

Banco de la Republica
Rachael King

The Central Bank of Colombia kept interest rates unchanged for a second consecutive monetary policy meeting on July 31.

The key policy rate remains at 13.25%. The board voted unanimously in favour of the decision, arguing that although inflation has declined recently, it remains way over the 3% target and above the levels recorded in advanced economies and neighbouring Latin American central banks.

In May, consumer price inflation decreased for the second consecutive month. However, it still

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