Colombia Keeps Benchmark At 7.25%

Colombia’s Central Bank has decided to hold the country’s benchmark overnight lending rate at 7.25%, the first move to hold it in the past four months. Unexpected deflation last month has allowed the Bank to take a break from the rate hikes, say analysts. In October, consumer prices fell by 0.14%, taking cumulative inflation to 4.0%, the lowest since 1955, and annual inflation to 4.2%.