2024-03-02 03:03:17
The Minister of Finance, Ricardo Bonilla, confirmed the intention of the National Government to carry out a historic reduction of 100 basis points in interest rates at the next meeting scheduled for March 22 of the Board of Directors of the Bank of the Republic.
Bonilla, known for his stance in favor of significant adjustments in interest rates, expressed his confidence in the unanimity of the decision to reduce rates. During an economic forum for Cambio magazine, he argued that it is imperative to start with a cut of 100 points due to the current real rate of 440 points, highlighting the need to maintain realistic rates to boost the country’s economic reactivation.
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«The discussion will be what amount. It should already start to go down 100 points because we have a real rate of 440 points and now that the inflation data for February comes out, it will show us how far that real rate is increasing and the country cannot tolerate real rates of that size, because the economic reactivation “It requires starting to reduce rates,” explained Bonilla.
According to the survey carried out by Citibank in February, the analysts consulted anticipate an average reduction in the interest rate from the current 12.75% to 12.13%. Expectations vary, with 12.50% being the highest projection and 11.75% being the most conservative.
This proposal to reduce the interest rate, if approved at the March meeting, could have a significant impact on various economic sectors of the country, marking a milestone in the financial policies of the National Government.
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