{"id":607978,"date":"2023-02-14T16:36:00","date_gmt":"2023-02-14T22:36:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/14\/colombias-central-bank-may-need-more-rate-hikes-depending-on-inflation-imf\/"},"modified":"2023-02-14T16:36:00","modified_gmt":"2023-02-14T22:36:00","slug":"colombias-central-bank-may-need-more-rate-hikes-depending-on-inflation-imf","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/14\/colombias-central-bank-may-need-more-rate-hikes-depending-on-inflation-imf\/","title":{"rendered":"Colombia’s central bank may need more rate hikes depending on inflation -IMF"},"content":{"rendered":"
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\"Colombia's
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BOGOTA (Reuters) -Colombia’s central bank may need to consider additional hikes to its benchmark interest rate, depending on how inflation in Latin America’s fourth-largest economy behaves, the International Monetary Fund (IMF) said on Tuesday, while not ruling out other internal risks. <\/p>\n

The board of Colombia’s central bank has raised borrowing costs by a total of 1,100 points to 12.75%, its highest rate since 1999, since launching into an upward monetary cycle in September 2021. <\/p>\n

At the same time, inflation climbed to a high of 13.25% in the 12 months through January.<\/p>\n

“Additional increases in the monetary policy rate could be necessary depending on the evolution of inflation, inflation expectations, and conditions of demand, among other factors,” the IMF said in a statement on its annual revision of the Andean country. <\/p>\n

Last week central bank board chief Leonardo Villar warned that inflation had yet to top out, which will likely lead to a more restrictive monetary policy than expected. The IMF echoed that sentiment, saying Colombia’s central bank will have to maintain a restrictive monetary police until after 2023. <\/p>\n

At the same time internal risks cannot be ruled out, the IMF said. <\/p>\n

“In social aspects, Colombia has seen social problems and these tensions could return,” Ceyda Oner, IMF assistant director and mission chief for Colombia, told Reuters. <\/p>\n

The IMF called for special care to be taken to communicate and manage reforms being presented by President Gustavo Petro, the country’s first leftist leader. <\/p>\n

Petro on Monday presented a controversial health reform to Congress, the first in a series of initiatives he plans to push this year, as part of efforts to reduce inequality, exclusion and poverty in Colombia.<\/p>\n

“Maintaining a continued track record of very strong policy implementation, including continuing to comply with the fiscal rule and the inflation-targeting framework, would help strengthen Colombia’s resilience and ability to respond to external and internal shocks,” Oner added. <\/p>\n<\/div>\n

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\n Alejandro Wiers<\/p>\n","protected":false},"excerpt":{"rendered":"

BOGOTA (Reuters) -Colombia’s central bank may need to consider additional hikes to its benchmark interest rate, depending on how inflation in Latin America’s fourth-largest economy behaves, the International Monetary Fund (IMF) said on Tuesday, while not ruling out other internal risks. The board of Colombia’s central bank has raised borrowing costs by a total of […]<\/p>\n","protected":false},"author":1,"featured_media":607979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22947,36512,534],"tags":[],"class_list":{"0":"post-607978","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-central","8":"category-colombias","9":"category-financial"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=607978"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/607978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/607979"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=607978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=607978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=607978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}