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Colombia's central bank raised its benchmark rate by 100 basis points to 10% on Thursday, with six board members backing that move and one voting for 50 basis points. The bank raised its 2022 GDP growth forecast to 7.8% from 6.9%, but cut its 2023 forecast to 0.7% from 1.1%.
The board cited robust inflation and a weaker peso linked to tighter developed-market policy.
Higher borrowing costs and a slower 2023 growth outlook could reduce Colombian demand for feed from poultry and hog producers, while the peso's depreciation keeps imported feed ingredients more expensive.
investing.comSep 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.
