“It’s good news”: Petro on interest rate cut

According to the monetary authority, this trend was promoted “by the good behavior of the food priceswhose annual inflation rate was 8.25%, more than two percentage points lower than that of October”, although the regulated prices sector “continued to put upward pressure on inflation due to increases in fuel and energy prices.

For this reason, the Bank of the Republic’s technical team has “downgraded” its economic growth forecast for 2023 from 1.2% to 1%.

“There is significant confidence that the reduction being implemented is sustainable,” Villar told reporters, adding that they are “confident that the reduction being implemented today does not need to be reversed” and that they will continue to work on reducing inflation. towards the target of 3% per year.

Source: El heraldo