Colombia's Central Bank Surprises Market by Keeping Interest Rate at 12%
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Insights by Echo AI
The Central Bank of Colombia (BanRep) maintained its interest rate at 12%, defying market expectations. In a 4-3 vote, the Board of Directors paused the upward trend seen in three out of the four previous decisions this year. The bank also announced a US$4 billion reserve accumulation program via put options.
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