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The
new forecast is still above the specific long-term inflation
goal established by the central bank, of 3%.
For 2025, the technical team at the central bank expects
inflation at close to 3%. The team's considerations are taken
into account by the bank's board of directors for its monetary
policy decisions.
"In the remainder of 2024 and towards 2025, levels of economic
activity could continue to recover, in an environment of
external financing conditions that gradually become less tight
and a less restrictive monetary policy," the report said.
Colombia's 12-month inflation through the end of June was 7.18%.
For the second quarter of 2024, the technical team forecast
growth of 1.8%. The government's DANE statistics agency will
publish second-quarter growth data on Aug. 15.
On Wednesday, Colombia's central bank cut its benchmark interest
rate by 50 basis points to 10.75%, its sixth cut since December.
(Reporting by Nelson BocanegraWriting by Oliver Griffin and
David Gregorio; Editing by Diane Craft)
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