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Colombia's peso weakened and two-year swap rates fell sharply after the central bank delivered a smaller-than-expected rate increase. The peso dropped as much as 1.2% to 4,583 per US dollar, making it the third-worst performer among more than 140 currencies tracked by Bloomberg.
Consumer prices are rising at the fastest pace in 23 years.
A weaker peso raises the local cost of imported feed ingredients such as corn and soymeal for Colombian buyers, while the rate decision signals tighter domestic credit that could slow livestock expansion.
bloomberg.comOscar MedinaSep 29, 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.
