Colombian growth lower than expected at 1.5 percent

Colombia's economy might only grow about 1.5 percent this year and inflation will be above the central bank's 2 to 4 percent target range, new bank board member Jose Antonio Ocampo said on Thursday, urging more interest rate cuts. Colombia's oil-producing economy was hit hard by the global fall in crude prices, while inflation reached more than twice the target range last year because of food price rises and currency pressures.

Source: Reuters