Without the presence of the Minister of Finance, the Bank of the Republic announced a 100 basis point increase in its interest rate

Leonardo Villar, manager of the Bank of the Republic. Photo: Courtesy - A.P.I.

Without the presence of the Minister of Finance, the Bank of the Republic announced a 100 basis point increase in its interest rate

TL;DR

  • The Bank of the Republic increased its interest rate by 100 basis points to 11.25%.
  • Four directors voted in favor of the increase, while two favored a reduction and one wished to keep it unchanged.
  • The Minister of Finance, Germán Ávila, criticized the decision as irresponsible and incoherent before it was announced.
  • The bank aims for inflation to decrease, as January and February inflation rates exceeded those at the end of 2025.
  • Basic inflation also rose, surpassing its December figure.
  • The Bank of the Republic manager stated that all board members act independently, except for the Minister of Finance who answers to the president.

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