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Santos calls for interest rate rise pause

Monday, September 1, 2014

Colombian President Juan Manuel Santos called on Monday for the central bank to pause after five quarter-point interest rate increases in as many months, which have taken the benchmark rate to 4.5 percent.

Growth in Colombia's economy has accelerated this year, with a gross domestic product expansion target of 4.7 percent.

But inflation has been well within the central bank's 2 percent to 4 percent target range and is expected to end the year around 3 percent.

Source: Reuters