Colombian central bank leaves inflation target unchanged
Rise in inflation is likely to prove transitory, board says, as it sticks to 2% to 4% range
The Central Bank of Colombia will maintain its inflation target unchanged in 2022, it announced on November 26.
The central bank’s policy goal allows inflation to fluctuate between 2% and 4%, with a midpoint of 3%. Since July 2020, year-on-year inflation declined below the target, dropping to 1.5% in March 2021.
That month, it increased to 3.3% from 2% in April. The process continued through the summer, until it reached 4.5% in August, surpassing the target’s upper limit.
“This has been the
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