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Colombia's central bank cut its benchmark interest rate by 25 basis points to 9.50% on Friday. The move was smaller than markets had expected.
The bank said it was slowing the pace of easing because of domestic fiscal uncertainty and decisions by regional peers.
A slower easing cycle keeps Colombian borrowing costs higher, which can weigh on domestic demand for feed in a market that imports much of its feed grains and meal. The smaller cut could also support the peso against the dollar, which lowers the local-currency cost of imported feed ingredients.
reuters.comNelson BocanegraDec 20, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
