Free Trial

President Petro Says Government Seeks To Lower Utility, Rental Costs

COLOMBIA
  • President Petro said that he is seeking legislation that will lower electricity tariffs and rental prices. Speaking at the inauguration of the 2024–2025 legislative period in congress, he said that these are the main drivers of inflation and need to be reduced.
  • He also said that high interest rates are hurting economic growth and that the government will send a number of bills to congress to promote economic activity.
  • The next BanRep monetary policy meeting is scheduled for July 31, when analysts expect the central bank to deliver another 50bp rate cut to 10.75%. Before then, June industrial and retail confidence will be published this Wednesday, while latest labour market data follow next week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.