Central Banks

Colombia Raises Key Rate as Petro Ally Walks Out in Protest

The Colombian Central Bank in Bogota.
Photographer: Santiago Mesa/Bloomberg

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By Oscar Medina

March 31, 2026 at 6:38 PM UTC

Updated on

March 31, 2026 at 9:10 PM UTC

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Colombia’s central bank delivered a full percentage-point increase to its key interest rate after Finance Minister German Avila walked out of the policy meeting, underscoring a deepening rift between President Gustavo Petro’s government and the monetary authority.