# Finance Colombia   » Colombian Central Bank Surprises Market by Cutting Interest Rate by 25 Basis Points to 5.0%

> 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%.

- Date: 2017-10-27 · published 2017-10-27T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/68730-finance-colombia-colombian-central-bank-surprises-market-by-cutting-interest
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

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.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- financecolombia.com: https://www.financecolombia.com/colombian-central-bank-surprises-market-cutting-interest-rate-25-basis-points-5-percent/

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