# Colombia cuts rate 6th time to boost economy further  - Central Bank News

> 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.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/51900-colombia-cuts-rate-6th-time-to-boost-economy-further-central-bank-news
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

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.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- centralbanknews.info: http://www.centralbanknews.info/2020/08/colombia-cuts-rate-6th-time-to-give.html

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