COLOMBIA: 25 Feb. UPDATE: Surprize Rate Increase, 1st Since 2008, Just Days After Record Bond Sell-Off.

BLOOMBERG / H. MURPHY /

   In a surprise move, the central bank raised its benchmark interest rate by 25 basis points to 3.25%... the first time in over 2-1/2 years...and just days after its bonds saw their biggest sell-off  in 28 months.
  The market showed its disapproval of central bank governor Jose Dario Uribe's (pictured) inaction.
    Uribe held the benchmark at a record low 3 percent even after the worst floods in three decades raised food prices... until yesterday.

COLOMBIA: Peso Sinks As Central Bank Plans DAILY $20 Million Usd Buys.

BLOOMBERG/          Colombia’s peso fell the most in a month after central bank chief Jose Dario Uribe announced it would buy at least $20 million usd DAILY...for at least 4 months... to cool a rally that pushed the currency as the world’s biggest gainer this year. The peso slid 0.7% to 1,803.36 per usd.

COLOMBIA: Peso Hits 2-Year High On China Output Report.

BLOOMBERG/     Colombia's peso has touched 1,791.15, the strongest level since Aug. 8, 2008 after a surge in China’s industrial output was reported.
   The peso has jumped 13.9% this year, the best performance among all currencies tracked by Bloomberg.
   But Central bank chief Jose Dario Uribe (pictured) said on 20 Aug. that Banco de la Republica will buy dollars in the spot market when it deems it “appropriate.”