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President Petro Makes Plea For Lower Interest Rates

COLOMBIA
  • It is worth recalling that late yesterday, President Petro made a plea to the central bank to cut rates. BanRep need to start monetary easing since inflation is slowing and tight money is hurting growth, President Gustavo Petro said.
    • “The real economy is shrinking basically due to high interest rate,” Petro said in a post on the social media platform X. “I ask the central bank to lower it, given that we have controlled inflation”.
    • Petro’s comments come after Q2 GDP report showed that the economy shrank 1% from the previous quarter, below the -0.3% estimate.
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