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Colombia's central bank raised its benchmark interest rate by 100 basis points to 12% to fight inflation, as expected. The peso reversed early losses and held flat against the dollar.
Latin American currencies were on track for a second weekly decline as recession fears weighed on appetite for risky assets.
Tighter policy across major central banks is strengthening the dollar and pressuring emerging-market currencies, which can raise the local-currency cost of imported feed ingredients for Latin American buyers. Mexico's Banxico is also expected to keep hiking, which may add to currency pressure.
financialpost.comReutersDec 16, 2022Not 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.
