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Colombia's central bank cut its benchmark rate by 50bp to 9.75% in a 4-3 board vote, with the minority favoring a 9.5% cut. The bank raised its 2024 growth forecast to 1.9% and its 2025 forecast to 2.9%.
The move followed a Senate-approved constitutional reform that spooked investors and sent the peso to its weakest level in over a year.
The rate decision and fiscal concerns weigh on the peso, raising import costs for Colombian feed buyers. The effect on global feed grain prices is limited.
livemint.comBloombergOct 31, 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.
