December 16, 2016 / 7:06 PM / 8 months ago

Colombia cenbank cuts interest rate to 7.5 pct, surprising market

BOGOTA, Dec 16 (Reuters) - Colombia's central bank unexpectedly cut the benchmark interest rate to 7.5 percent on Friday in a bid to bolster growth despite inflation figures that are well above the target range.

The seven-member board decided to reduce the lending rate by 25 basis points, surprising all analysts in a Reuters survey this week. (Reporting by Bogota newsroom)

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