Colombia cenbank ups rate to 7.75 pct to ease still-high inflation

viernes 29 de julio de 2016 15:25 GYT

BOGOTA, July 29 (Reuters) - Colombia's central bank raised its benchmark lending rate to 7.75 percent on Friday, the 11th consecutive monthly increase, as fast-climbing consumer prices put its 2017 inflation target at risk.

The seven-member board decided to boost the lending rate by 25 basis points, meeting the forecast of 16 out of 22 analysts in a Reuters survey last week. (Reporting by Bogota newsroom)