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In October, the monthly reading was 0.25%, which led to a year-over-year number of 10.48%. Now, the question is how far it will fall this month.

The real headline grabber should be Banco de la República, which — in its infinite wisdom — has chosen to ignore the other 99% who understand that 13.25% overnight rates choke off an economy.

Will Banco de la República upgrade its November meeting to a "decision" meeting in order to cut rates from 13.25% and start the easing cycle?

Banco de la República left interest rates at 13.25%, a terminal rate that needs to come down ASAP. The cut doesn't need to be radical but at least signal that the easing cycle has begun.

The central bank could hit Fedesarrollo's year-end estimate of 12.5% with cuts of 25 and 50 basis points in October and December, respectively.

For national unemployment, it is the lowest August since 2016. And for urban unemployment, it is the lowest August — EVER!

Colombia's Finance Ministry and the National Business Association of Colombia (ANDI) have spent weeks and months asking for rate cuts. Will they get what they want?

While we're seeing many headlines about the Colombian peso being the global top performer in 2023, this is mostly due to the sell off in the fourth quarter last year.

ANDI) and the Ministerio de Hacienda moved together on this plea — in what is hopefully the start of a more harmonious relationship.

Banco de la República left rates at 13.25% — no surprise! — and lowered their 1.0% GDP estimate for 2023 to 0.9%.