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.