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Finance Minister Reiterates Rate Cuts Could Start In September

COLOMBIA
  • Finance Minister Bonilla reiterated that BanRep could start cutting rates as soon as September, telling lawmakers that Colombia’s economy doesn’t need to be cooled down any further. He stated that the economy bottomed out in the second quarter, and it’s time for banks to cut borrowing costs.
    • Bonilla said he predicts GDP growth of 1.8% in 2023 and 1.5% in 2024.

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