Central Bank of Colombia
Dollar Loses More Ground as Trump’s Reelection Prospects Improve
September 1, 2020
On the heels of a weak performance in August, the dollar fell another 0.8% against sterling overnight and also lost 0.5% relative to the euro, kiwi, and peso, 0.4% versus the yuan, 0.3% vis-a-vis the loonie, and 0.1% against the yen and Australian dollar. It also costs more dollars today than yesterday to buy commodities […] More
Central Bank of Colombia
July 1, 2020
The Central Bank of Colombia’s policy interest rate was reduced 25 basis points to a record low of 2.50%. The decision drew one dissent. CPI inflation slowed over a half percentage point in May, and both it and expected inflation are now below the 3% objective. Colombia’s labor market has deteriorated recently, and recovery in […] More
Stock Markets Open Third Quarter on a Downbeat Despite Higher Factory PMI Readings
July 1, 2020
Share prices fell 0.8% in Japan and show daily losses so far of about 1.5% in Germany, France, Italy and Spain. The British Ftse is 1.1% weaker, and U.S. futures point to a drop at the open. Euroland’s June purchasing managers index printed at a 4-month high of 47.4, which is half a point above […] More
May Day 2020: Stocks Down, Developing Currencies Weaken, and Trump Makes a Fresh Tariff Threat
May 1, 2020
Markets are observing labor day holidays in most of Continental Europe and in a slew of Asian countries. What should have been a very quiet day was disturbed by a new tariff threat from President Trump against China, whom he blames for the Covid-19 global pandemic which has hit America particularly harshly. People didn’t have […] More
Central Bank of Colombia
March 21, 2018
Colombia’s monetary policy interest rate was left unchanged at 4.5%. It had been reduced by 25 basis points this past January and before that by 25 bps in December 2016, February 2017, March 2017, May 2017, July 2017, August 2017, October 2017, and November 2017, as well as by 50 basis points last April and […] More
Yesterday’s Dollar Rebound Already Petering Out
January 30, 2018
The dollar‘s advance on Monday was trimmed by overnight losses of 0.5% against the Swiss franc, 0.3% relative to the euro and yen, 0.2% vis-a-vis the New Zealand and Australian dollars, and 0.1% versus the loonie and sterling. Investors want to see exactly what President Trump presents in tonight’s state of the union address and […] More
Central Bank of Colombia Enacts an Eighth 2017 Interest Rate Cut
October 30, 2017
Colombia’s benchmark interest rate was sliced to 5.0% from 5.25%. This was this year’s sixth 25-basis point reduction, and there have been also two cuts of 50 basis points. Prior to these, there was an initial 25-bp cut in mid-December of 2016. The rate had crested at 7.75% from July until December of last year. […] More
Central Bank of Colombia
March 24, 2017
A statement has been released after the third 25-basis point reduction of Colombia’s benchmark interest rate in four months. The rate becomes 7.0%, lowest since last May. From April 2014 until July 2016, 15 25-basis point interest rate hikes were engineered by monetary authorities. While inflation of 5.2% in February was higher than the 3% […] More
Central Bank of Colombia
February 1, 2016
Colombian monetary policymakers like to change their interest rate in consecutive monthly moves. From 5.25%, the rate was sliced by 25 basis points each in July and August, followed by five straight cuts totaling 150 basis points from November 2012 through March 2013. When an initial 25-basis point rate hike was done a year later […] More
Central Bank of the Republic of Colombia Lifts Key Interest Rate for a Second Time
May 31, 2014
April’s first Colombian central bank interest rate hike in 26 months has been followed by a second 25-basis point increase in May, taking the key rate to 3.75%. Before these back-to-back increases, the previous rate hike had occurred in February 2012, a move that culminated a streak of nine tightenings totaling 225 basis points. In […] More
