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Colombian central bank cuts growth forecast

Monday, May 2, 2016

Colombia's central bank unexpectedly increased the benchmark interest rate by half a percentage point on Friday in an effort to stem rising inflation, and slightly lowered its 2016 growth forecast for the country's oil-dependent economy.

The bank expects economic growth to be between 1.5 percent and 3.2 percent this year, with 2.5 percent as the most probable outcome.

Source: Reuters