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The Banco de la República board cut its policy interest rate in a decision that surprised most economists, including BBVA Research. BBVA's chief economist for Colombia published an analysis looking beyond the rate move.
The note is in Spanish.
A lower policy rate tends to weaken the peso, which raises the cost of dollar-priced feed imports for Colombian buyers. The effect on global grain prices is minimal.
bbvaresearch.comJuana TéllezFeb 8, 2018Not 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.
