Bloomberg Pakistan’s money exchange companies will let the currency drop slowly in the open market after deciding to abolish the limit on the dollar-rupee rate. The Exchange Companies Association of Pakistan (ECAP) has informed the central bank of its decision to remove the limit, President Malik Bostan said in a phone interview. The group had earlier voluntarily decided to …

  Bloomberg Colombia is forecast to extend its biggest-ever series of interest rate rises to curb inflation that is defying a regional downward trend. The central bank will lift its policy rate one percentage point to 13%, its highest level since 1999, according to 16 of 28 economists surveyed by Bloomberg. The rest expect a smaller move, of half or …

  Bloomberg Mastercard Inc. dropped after warning revenue growth would slow even faster than expected this quarter, stoking fears that inflation has put a damper on consumer spending. The payments giant said spending on its cards increased 11% to $1.73 trillion in the fourth quarter, missing the $1.77 trillion average of analyst estimates compiled by Bloomberg. The company also warned …