Colombia Central Bank Surprises With Rate Hike
Colombia's central bank increased its benchmark interest rate by 25 basis points to 12.25%, a move that caught most market participants by surprise. The decision was driven by persistent inflationary pressures and was supported by a majority of the seven-member board.
25% on Wednesday, surprising most of the market as inflationary pressures persisted. The 25-basis-point increase was supported by a majority of the seven-member board, with four policymakers backing the move.