(Bloomberg) -- Colombia's central bank is ready to
raise interest rates as the fastest growth in three decades
threatens to put their 2007 inflation target out of reach,
central bank Director Juan Jose Echavarria said.
Consumer prices in May and April rose more than 6 percent
annually, the fastest pace since 2004 and well above the bank's
target of 3.5-to-4.5 percent for 2007. The bank on June 15
raised its benchmark lending rate to 9 percent, the highest
since October 2001.
Read more at Bloomberg Emerging Markets News
raise interest rates as the fastest growth in three decades
threatens to put their 2007 inflation target out of reach,
central bank Director Juan Jose Echavarria said.
Consumer prices in May and April rose more than 6 percent
annually, the fastest pace since 2004 and well above the bank's
target of 3.5-to-4.5 percent for 2007. The bank on June 15
raised its benchmark lending rate to 9 percent, the highest
since October 2001.
Read more at Bloomberg Emerging Markets News
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