Colombian central bank leaves inflation target unchanged

Central Bank of Colombia, Bogota

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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