The Central Bank of Colombia lifted its benchmark monetary policy interest rate by 25 basis points to 4.50% from 4.25% previously. The Bank said (translated): “Since March, the average measures of core inflation has been a slight upward trend in June and reached a level close to the midpoint of the target range (3% + / – 1 percentage point). Inflation expectations at various horizons are also within that range.” and also noted “The increase in the rate of intervention aims to maintain inflation within the target range this year and next and help prevent future financial imbalances that threaten the sustained growth of the economy.”