# Investors Doubt If Colombia’s Rate Hike Can Avoid Meltdown | Latin America News

> Colombia's central bank raised interest rates on Friday to calm markets after President Gustavo Petro surprisingly fired his finance minister. Investors say the hike will not be enough to attract money back, and they are waiting for the new minister to take office Monday and for Petro to address supporters.

- Date: 2023-04-29 · published 2023-04-29T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/36709-investors-doubt-if-colombia-s-rate-hike-can-avoid-meltdown-latin-america-news
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Political and policy uncertainty keeps the peso and Colombian debt under pressure, which raises the local-currency cost of dollar-priced feed imports. Investors are staying on the sidelines until the policy direction is clearer.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/investors-doubt-if-colombias-rate-hike-can-avoid-meltdown/

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