Commodities
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Flexible exchange rate aids those hit by commodity shock, IMF report says
“Sacrifice ratio” is lower for those that allow local currency to depreciate; fixed exchange rates are becoming more expensive, IMF says
Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused macroeconomic imbalances for Colombia, central bank governor says; effects are now showing signs of abating