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Colombia lifts key rate 4 percent

Monday, June 23, 2014

Colombia’s central bank raised its benchmark interest rate for a third straight month as policy makers withdraw stimulus to South America’s fastest-growing economy.

The seven-member board lifted the policy rate a quarter point to 4 percent, bank Governor Jose Dario Uribe said.

The economy expanded 6.4 percent in the first quarter, its fastest pace in more than two years, even as growth slowed in Peru, Chile and Brazil.

Source: Bloomberg