LatinNews Daily - 31 October 2022

* Colombia’s central bank (Banrep) has raised the benchmark interest rate by 100 basis points to 11%. In a statement explaining the decision, Banrep noted that annual inflation stood at 11.4% in September, up from 10.8% the previous month, and far higher than the bank’s target of 3%. The statement also highlighted the “worsening of financial conditions facing the economy, caused by global factors and idiosyncratic factors”.

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