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COLOMBIA: BanRep Cuts Interest Rate By 50bp To 10.25%, As Expected

COLOMBIA
BulletEM BulletEmerging Market News
  • "*COLOMBIA CENTRAL BANK LOWERS LENDING RATE TO 10.25% VS 10.75%" - BBG
  • "Four directors voted in favor of this decision and three voted for a 75 bps reduction"
  • "Despite the 50 bps interest rate cut and expectations of further cuts by the US Federal Reserve, risk premiums in Latin America have increased, and in Colombia they have done so to a greater extent. This is linked, among other factors, to the reduction in oil prices and the challenging fiscal situation."
  • "The decision adopted at today's meeting continues to support the recovery of economic growth and maintains the required prudence given the risks that remain regarding the behavior of inflation. The Board of Directors reiterates that future decisions will depend on the new information available"
    • The monetary policy statement is here (Spanish only).
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  • "*COLOMBIA CENTRAL BANK LOWERS LENDING RATE TO 10.25% VS 10.75%" - BBG
  • "Four directors voted in favor of this decision and three voted for a 75 bps reduction"
  • "Despite the 50 bps interest rate cut and expectations of further cuts by the US Federal Reserve, risk premiums in Latin America have increased, and in Colombia they have done so to a greater extent. This is linked, among other factors, to the reduction in oil prices and the challenging fiscal situation."
  • "The decision adopted at today's meeting continues to support the recovery of economic growth and maintains the required prudence given the risks that remain regarding the behavior of inflation. The Board of Directors reiterates that future decisions will depend on the new information available"
    • The monetary policy statement is here (Spanish only).