Colombia: The central bank (Banrep) has cut its benchmark interest rate by 25 basis points (bps) from 5.75% to 5.50%. A Banrep statement cites as reasons for the change the fact that in June annual consumer inflation stood at 3.99% and the average of core inflation indicators was 5.09%. These inflation figures are lower than those registered a month ago. The statement also notes that “analysts’ inflation expectations to December 2017 and 2018 have lowered, reaching 4.28% and 3.52%, respectively. Those embedded in public debt bonds recorded modest changes, and are slightly above 3.0% for 2018”.
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