Colombia halts year-long rate tightening cycle

Colombia's central bank held its benchmark interest rate on Wednesday for the first time in a year, as policymakers grappled with a sluggish economy and fast-climbing consumer prices that have put their 2017 inflation target at risk.

The seven-member board decided by majority to maintain the lending rate at 7.75 percent after raising it 325 basis points, meeting analysts' expectations it would halt its tightening cycle.

Source: Reuters