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Colombia's Santos names Ocampo to central bank board

Feb 28 (Reuters) - Colombia's President Juan Manuel Santos on Tuesday named a new member to the central bank policy board, replacing one of the seven directors.

Jose Antonio Ocampo will next month help decide whether to change the key lending rate from its current 7.25 percent, as the bank seeks to bolster sluggish economic growth while tackling stubborn inflation.

He replaces Cesar Vallejo.

(Reporting by Helen Murphy; Editing by Bernard Orr)