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BOGOTA, Oct 30 (Reuters) - Colombia's central bank increased the benchmark interest rate by an unexpected half point on Friday in an effort to stem rising inflation that is already well above the bank's target range even while the economy slows.
The seven-member board decided to boost the lending rate to 5.25 percent, surprising all but one of 18 analysts in a Reuters survey.
The bank also announced a call option auction in a bid to moderate exchange rate rises and revised its 2015 gross domestic product growth to 3 percent. (Reporting by Bogota newsroom)