Weekly Report - 02 April 2026 (WR-26-13)

COLOMBIA | Petro rails against interest rate hike. Colombia’s central bank raised its benchmark interest rate by 100 basis points to 11.25% on 31 March, warning that the war in the Middle East is expected to drive up inflation. Inflation was running at an annual rate of 5.3% in February and the central bank expects it to hit 6.3% by the end of the year – more than double the 3.0% target rate. This was the second consecutive interest rate hike after a previous 100-basis-point increase in February.