Colombia’s central bank could call time on its upward monetary cycle after inflation in Latin America’s fourth-largest economy slowed in May, bank board chief Leonardo Villar said on Tuesday.
Villar also forecast high profits for the bank in 2023.
The monetary authority has hiked its benchmark interest rate by 1,150 basis points since September 2021 in a bid to curb rampant inflation, which slowed to 12.82% for the 12 months through April.