Colombia resumes rate hikes in first post-election decision
Analyst says 75bp hike may be attempt by Banrep to compensate for April’s ‘compromise hold’
The Central Bank of Colombia (Banrep) has resumed interest rate hikes in its first monetary policy decision following last month’s presidential elections.
On June 30, the bank’s board of directors voted in a three-way split decision to raise the benchmark rate by 75 basis points to 12%. Four directors voted for the hike, two opted for a 50bp cut and one voted to keep rates on hold. In a statement, the board cited rising inflation, volatile inflation expectations, strong domestic demand and a
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