BOGOTA – The board of Colombia’s central bank on Friday voted to cut its benchmark interest rate by a surprise 25 basis points to 9.50%, less than expected by the market, citing global financial pressures and the work of other central banks to raise their own interest rates. All 25 analysts in a recent Reuters poll said they expected the board to vote for a cut of 50 basis points. Five of the board’s seven policymakers voted for a 25 basis point cut, one for a 50 point cut and one for 75 points, board director Leonardo Villar said in a press conference. (Reuters)

Photo: General view of the Central Bank of Colombia building in downtown Bogota, Colombia.