# Colombia Cuts Key Rate to 9.75% as Fiscal Risks Spook Market

> 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.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/28136-colombia-cuts-key-rate-to-9-75-as-fiscal-risks-spook-market
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

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.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- livemint.com: https://www.livemint.com/market/stock-market-news/colombia-cuts-key-rate-to-9-75-as-fiscal-risks-spook-market-11730403942655.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.