© Reuters. A staff member counts Colombian pesos in an exchange residence, in Bogota, Colombia July 11, 2022. REUTERS/Luisa Gomzalez
By Nelson Bocanegra and also Carlos Vargas
BOGOTA (Reuters) -Colombia’s reserve bank board on Friday with one voice held the benchmark rate of interest constant for the very first time in almost 2 years, with the marketplace anxiously waiting for indications of when policymakers might start to reduce prices as rising cost of living cools down.
All 22 experts questioned in a Reuters study recently stated the seven-member board would certainly hold loaning prices at 13.25%. The board increased the price by 1,150 factors throughout the rise cycle, which started in September 2021.
” The rising cost of living assumptions of financial experts remained to lower and also lie at 6.4% at twelve month and also at 4.0% at 24 months. By the end of 2024, they lie at 5.0% in the average of the example,” the financial institution stated in a declaration revealing the choice.
Yearly rising cost of living was 12.36% in May, its cheapest considering that October 2022, however still even more than 4 times the financial institution’s lasting 3% target.
A bulk of the experts questioned by Reuters anticipate the financial institution will certainly hold the price for a couple of months prior to starting cuts in September or October, benefiting from rising cost of living’s be up to prevent a much more extreme downturn in financial development.
