Central Bank of Colombia

A 50 Basis Point Colombian Central Bank Rate Hike with Three Dissenters Favoring a Larger Increase

December 17, 2021

Colombia’s monetary policy rate was raised today to 3.0% from 2.5%. This increase followed hikes of 25 basis points in September and 50 bps in October, and it was decided by a thin 4-3 vote where the disagreement pertained to how much to tighten rather than whether to lift the rate again or not. Three […] More

Interest Rate Hike in Colombia

November 1, 2021

The Central Bank of Colombia‘s policy interest rate was lifted by a greater-than-anticipated 50 basis points to 2.5%. An initial 25-basis point increase occurred in September. After the pandemic hit in 2020, the rate was slashed from 4.25% to 1.75% in seven incremental moves. Some of the other central banks to raise interest rates since […] More

Summits and Manufacturing PMI Releases

November 1, 2021

All Saints Day 2021 marked the end of one summit and start of another and the release of manufacturing purchasing manager surveys for a number of economies. In overnight market action, Equities rallied 2.6% in Japan, over 1% in India, and so far between 0.8% and 1.2% in Germany, France, Italy and Spain. U.S. stock […] More

Central Banks in Mexico and Colombia Lift Interest Rates by 25 Basis points

September 30, 2021

The Bank of Mexico’s overnight interest rate, which had been cut by 25 basis points in February to culminate a cumulative reduction of 325 basis points over a one-year period, has been subsequently raised by 25 basis points three subsequent times to 4.75% to counter rising inflation and ensure that inflation will settle back to […] More

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