Colombia hikes rates

Colombia hikes rates

Bonds Corporate & Sovereign Strategy Economy & Policy

Colombia's central bank raised interest rates by 25bp to 5.75% on Friday, in line with analysts' expectations. The bank cited rising inflation, which is forecast to remain at 4.6% in 2016 and drop to 3.8% in 2017.  Sluggish domestic growth and weak global economic activity, further devaluation of the peso and US Fed's rate rise last week also influenced the decision. BanRep becomes the third Latin American central bank to increase its benchmark rate after the Fed's move on Wednesday. Chile'

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