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Colombia's central bank kept its benchmark rate unchanged at 4.25%, a unanimous decision in line with analyst expectations, and is expected to hold until next year. It raised its 2019 GDP growth estimate to 3.2% while citing inflation of 3.82% and peso depreciation as temporary.
The bank also ended its dollar-buying reserve program after accumulating $2.8 billion.
A steady rate and an end to reserve purchases mean less central bank dollar demand in Colombia, a modest macro signal for feed importers buying in pesos. The peso's 8% drop raises the local cost of imported feed ingredients.
financialpost.comReutersOct 31, 2019Not 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.
