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Colombia's central bank cut its key interest rate by 25 basis points, from 5.25% to 5.00%, in a 5-2 vote, surprising a market that expected a hold. The committee said the cut should not be read as the start of a continuous easing path.
It kept its 2017 GDP growth forecast at 1.6% and raised its 2018 forecast to 2.7%.
Lower Colombian rates tend to weaken the peso, which can make dollar-priced imports such as feed more expensive for Colombian buyers. The effect on global grain and meal prices is small.
financecolombia.comJared WadeOct 27, 2017Not 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.
