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The central bank, led by President Mario Bergara (pictured), raised its benchmark interest rate much more than most economists expected...to fight heated inflation.
The c.bank boosted the benchmark rate... an astounding 100 basis points -- one percentage point-- to 7.5 %.
Annual inflation there grew to 7.67 % in February... from 7.27 % in January... well above the upper limit of the central bank’s 2011 target range... of 4 percent to 6 percent.
Prices rose 6.93 % in 2010.
Annual inflation there grew to 7.67 % in February... from 7.27 % in January... well above the upper limit of the central bank’s 2011 target range... of 4 percent to 6 percent.
Prices rose 6.93 % in 2010.
