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Colombia's central bank cut its benchmark rate by 50 basis points to 3.75%, its first cut since April 2018. It also expanded liquidity measures, including up to $1 billion in dollar auctions and $400 million in currency swaps.
The board said the measures aim to keep financial markets functioning during the coronavirus outbreak.
Lower rates and added dollar liquidity support the peso, which limits the import cost of feed ingredients for Colombian buyers. The effect on feed prices is modest because the measures are designed to stabilize markets rather than change the currency trend.
centralbanknews.infoMar 27, 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.
