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Colombia's central bank cut its benchmark rate by 25 basis points to 2.0 percent, its sixth consecutive monthly cut and 225 points so far this year. The board cited weak demand, spare capacity, a deteriorating labour market and a 15.7 percent year-on-year GDP contraction in the second quarter.
Looser monetary policy weakens the peso and supports domestic demand for feed-using livestock, but Colombia is a small feed importer so the effect on global grain and meal prices is minimal.
centralbanknews.infoAug 31, 2020Not 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.
