Colombia Unexpectedly Raises Interest Rate to 3.5%

At its April 25th meeting, Central Bank of Colombia increased the benchmark interest rate to 3.5 percent due to higher inflation and improving economy.
Central Bank of Colombia | isabel.felino@tradingeconomics.com 4/25/2014 11:01:31 PM
In the fourth quarter of 2013, Colombian economy expanded 4.9 percent over the same period last year, slightly lower than a 5.4 percent expansion in the previous quarter. For the full 2013, it was 4.3 percent, up from 4 percent in 2012.

Inflation is also picking up. Through March, annual consumer inflation was 2.5% compared with 2.3% at the end of February and 1.9% at the end of March 2013.

Colombia Unexpectedly Raises Interest Rate to 3.5%