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Economy & Business - March 2008 (ISSN 1741-7430)

COLOMBIA: Inflation worries

On 22 February, the central bank raised interest rates by 0.25 basis points in an effort to head off inflation. The move brought the benchmark interest rate up to 9.75%. In January, inflation was 1.06% month-on-month, pushing the annual rate to 6%. In February it rose further to 1.51% on a monthly basis and 6.3% annually. In 2007 inflation was 5.69% annually.

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