LatinNews Daily - 31 January 2022

In brief: Colombia raises interest rates

* Colombia’s central bank (Banrep) has raised the country’s benchmark interest rate by 100 basis points to 4.00% in response to climbing inflation. In a statement, Banrep noted that monthly inflation in December was 0.73%, 0.3 percentage points higher than the bank had anticipated, bringing annual inflation in 2021 to 5.62%. The statement added that the interest rate hike maintains the possibility of Colombia reaching its target of 3% inflation in 2022, as opposed to Banrep’s current forecast of 4.3%. 

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