Colombia: Interest rates unlikely to rise much further

Interest rates in Colombia were left unchanged at 4.50% on Friday and we do not expect rates to rise in the near term. There may be one more 25bp increase to 4.75% next year if domestic demand remains strong and inflation rises. But the bigger picture is that the 50bp of hikes to 5.00% priced into the market by end-15 are unlikely to materialise.


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