Gustavo Petro
Colombia's central bank raises rate to 11.25% in second 2026 hike amid government walkout
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Following its January hike to 10.25%, Colombia's Banco de la República raised its intervention rate by another 100 basis points to 11.25% in a tight 4-3 vote during its second meeting of the year. Finance Minister Germán Ávila walked out of the board meeting and announced the government's withdrawal from the central bank over disagreements. President Gustavo Petro backed the move and criticized the monetary policy.
Dane reported Colombia's February 2026 unemployment rate at 9.2%, the lowest for any February since 2001, with 2.45 million unemployed people. Occupied population rose to 24.09 million, up 624,000 from February 2025. President Gustavo Petro and Labor Minister Antonio Sanguino hailed the figures and defended the minimum wage increase.
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President Gustavo Petro again protested US bombings in the Caribbean during the christening of the oceanic patrol boat ARC ‘24 de Julio’, Colombia's largest domestically built vessel. He handed it over to the National Navy and highlighted its role in seizing cocaine shipments. He also called for developing national arms production.