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Colombia to Grow Slower than Expected

On October 8, the central bank (Banrep) published the minutes of its September 24 monetary policy meeting, at which the target rate was kept unchanged at 3%. Banrep offered a less optimistic view on domestic and global activity—on the inflation side, and referring to the August inflation data, the minutes still mentioned that there was a high degree of confidence that inflation will converge to the target range in 2010 and 2011. Meanwhile, the view on the local economy has deteriorated, signaling a slower growth than previously expected for 2010.

The global economy continues to grow,[...]

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