Colombian Economy Receives Good News: Bank of the Republic Rules Out Further Interest Rate Hike

2023-07-06 23:00:20

The pocket of Colombians has received good news that might put a cold cloth on the economic problems of inflation, which, by itself, is in full decline according to specialists. It is a directive of the Bank of the Republic that can have a favorable impact on citizens since it announced that it is not going to raise its interest rates any further.

“In recent months, the Colombian peso has appreciated significantly, this has occurred in the context of the reduction in international oil prices. For this reason, the board’s decision is in line with the objective of seeking the inflation of 3%”, affirmed Leonardo Billar, manager of the financial institution.

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The specialists in economy They augur good news in terms of inflation in the coming months and this, of course, has a favorable impact on the pocket of citizens. “The inflation expectations of economic analysts continue to drop, and are located at 6.4 in twelve months and at 4% in the following 24 months,” reported economists consulted by the newspaper “La República.”

In this way, the money of Colombians might increase its value and this, finally, be transferred to a better quality of life. The $20,000, $50,000 and $100,000 bills will appreciate if these projections are met, improving the economy from town.

Economists predict that inflation will drop and that money will yield more. Source: Pixabay – photo by caruizp.

“We have a gradual slowdown, we are in a transition year facing a economy which was doing too well last year, towards a slightly more long-term economy, this gives us so that the unemployment rate will surely continue in the order of between 10% and 11% throughout the year with some sectors that they have been much better than others” commented to Infobae the main economist of Scotiabank Colpatria, Sergio Olarte.


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