Colombia's central bank holds interest rate at 12.25%

Banco de la República kept its monetary policy interest rate at 12.25% after a split decision by its board: four directors voted to leave it unchanged and three proposed a 25-basis-point hike that would have taken it to 12.50%. The announcement was presented on Friday, October 30, by the central bank's general manager, Leonardo Villar. The decision came amid a rise in annual inflation, signs of economic slowdown and debate over public finances.