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Colombian Central Bank Raises Rate 25bps To 3.50%

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The Banco de la Republica de Colombia increased its key monetary policy rate by 25 basis points to 3.50 percent from 3.25 percent. The move follows Colombia’s credit rating upgrade by one-step to BBB- by Standard & Poor’s this week. Colombia reported consumer price inflation of 0.6% month on month in February, or 3.17% year on year, compared to the central bank’s 2 percent to 4 percent target.

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