The Colombian president, Iván Duque, said that he is making a call “respectful” to the central bank to see how much it will raise interest rates so as not to harm economic growth.
(Is the independence of Banco de la República at risk?).
In an interview on Caracol Radio, Duque said that if central bankers need to further increase borrowing costs, They should keep in mind that increases in interest rates will not help alleviate inflation that is due to global factors.
“My respectful appeal to the Banco de la República… If you have to look at the rates, look at them but beware, this is not going to control a global phenomenon and that the increases have to be sensible enough in terms of controlling inflation, but also in not slowing down the Colombian economy”.
The Government will extend aid to households to one million people to help the poorest in the face of rising consumer prices, Duke said.
On the other hand, he added that the impact of tariff cuts on consumer prices will take time.
(Duque asks for “finesse” in rate hikes so as not to stop the reactivation).
When asked about the presidential candidate Gustavo Petro Faced with the statement that the central bank belongs to the government’s political party, Duque said that most of the appointments made in his administration have been due to resignations and were in line with the Constitution.
Bloomberg
