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The Colombian central bank unexpectedly cut its benchmark policy rate by 25 basis points to 7.25%, its lowest since May 2016. The bank cited weak economic activity, the risk of excessive deceleration, and uncertainty over inflation convergence.
The peso slipped against the dollar after the announcement, with USD/COP ending near 2,890.
A lower Colombian policy rate and a weaker peso raise the local cost of imported feed inputs and may affect Colombian livestock and poultry feed demand; the move is a currency and macro story with limited direct grain price impact.
ibtimes.sgBoby MichaelFeb 24, 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.
