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Policy Rate Close To Level Required For Inflation Convergence To Target

COLOMBIA
  • From the statement (translated):
  • “Global inflation has decreased as a result of the monetary policy adjustment process and the mitigation of supply disturbances on maritime transport costs and international prices of some food and energy products. The improvement in the external environment and confidence in Colombia's fiscal prospects have been reflected in a drop in the exchange rate.”
  • “The growth rate of credit has slowed, which favors a moderation of domestic demand, and with it inflationary pressures in 2023.”
  • “With the decision adopted in today's session, monetary policy is close to the position required to induce a convergence of inflation towards its 3% target in the medium term. Further decisions by the Board will depend on new information available.”

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