Colombia’s Central Bank, Banco de la Republica, announced on Friday a benchmark interest rake hike of .25% for the fifth consecutive month in a row, bringing the rate to 4.5%.
The announcement came shortly after the Colombian statistics agency, DANE, released data on the most recent unemployment numbers, showing a slight increase of .11% in unemployment between June and July.
The ColCap index, Colombia’s main equity index composed of the 20 most traded stocks on the Colombian stock exchange, the Bolsa de Valores de Colombia, has been increasing in value since the rise in rates began five months ago.
MORE: Colombia’s central bank raises lending rate to 4.25%