Colombia delivers unexpected 25bp rate hike
Move marks ‘fourth consecutive policy surprise’ in tightening cycle, economist says
The Central Bank of Colombia (Banrep) has raised its benchmark rate by 25 basis points to 12.25% in a surprise decision.
On September 30, four of directors voted in favour of the decision, two opted for a pause while one supported a 50bp hike. In a statement, the central bank said the hike would maintain its “restrictive monetary policy stance” in line with expectations of a declining inflation path in 2027.
The move came as a surprise to markets. Twenty two analysts surveyed by Bloomberg had
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