Colombia steps up currency intervention

Colombia steps up currency intervention

Economy & Policy

Colombia’s central bank hiked rates for the third consecutive month on Friday, in the country’s first monetary policy decision after the reelection of President Juan Manuel Santos. BanRep also said it would step up intervention in the currency market in the third quarter, up to $2bn a month. The monetary policy committee agreed to raise the base rate by 25bp, to 4%. The bank cited accelerating growth, which reached to a high-than-expected 6.4% on an annual basis in the first quarter. Rising infl

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