Banco de la República cut by 50 bps to 12.25%, but despite words expressing the "magnitude" of the cut, it was the absolute minimum they could have done.
The hope is that we will see another decline for January, but some are concerned about how the 12% minimum wage increase and El Niño have affected prices.
The highlight of the week was clearly the 0.45% inflation print for December — which dragged the full-year figure or 2023 to 9.28%, below the 9.45% expected.