Colombia’s rapid recovery and growing inflationary pressure mean the central bank will need to pare back the amount of stimulus it’s providing the economy, bank Governor Leonardo Villar said. “We saw the need to begin reducing the magnitude of stimulus,” Villar said in a presentation Thursday, referring to the central bank board’s discussion in its last policy meeting in July. “That doesn’t mean eliminating stimulus altogether.” The bank will begin to lift interest rates “gradually”, he said, without specifying when it will start. Analysts surveyed by the central bank are forecasting the first rate increase in more ... (full story)