The Bank of the Republic decided by a majority to reduce its Monetary Policy Rate from 13.25% to 13.00% for the first time since April. Five directors voted in favor of this decision, and two directors voted to keep it constant. We invite you to read the full report.

Inflation and exchange rate: Inflation surprises and resumes upward pressure: How does the TRM interpret it?
For the foreign exchange market, the surprise in the March data and the expectation of a more restrictive monetary policy for a longer period have strengthened one of the currency's main structural supports: the carry channel. This feature continues to give the Colombian peso significant appeal, particularly in an environment where the global dollar has lost some momentum, but the selection process within Latin America has become more demanding.

