Colombia raises interest rates 100 bp to 12%

ISTANBUL

Colombia's central bank said Friday it increased its monetary policy interest rate by 100 basis points to 12%.

Four members of the bank's board of directors voted for the action but one voted for a hike of 125 basis points. Another voted for a raise of 25 basis points, it said.

Annual consumer inflation came in at 12.5% in November, higher than expected, the central bank said.

GDP growth in the third quarter reached 7.1% annually and exceeded forecasts, it added.