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Colombian Finance Minister Ricardo Bonilla must be pulling his remaining hair out.

While the fall was slightly better than expected, the positive difference is likely not enough to radicalize the central bank into taking more drastic measures.

Fedesarrollo's survey projects March inflation to drop to 7.34% — and continue falling to hit 5.51% by year-end.

What will Banco de la República head Leonardo Villar and the rest of the Magnificent Seven do at their next meeting?

Ecopetrol has been a dividend cash cow for many years, but those days are surely coming to an end.

For reasons I cannot detect, Banco de la República only moves rates at 8 of their 12 annual meetings.

Transport workers are going to represent a problem, as the government tries to move fuel prices to market levels.

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.

Banco de la República now surely have to cut rates by at least 25 basis points in a couple of weeks time.

PPI data for November came in with another healthy decline. Let's hope the CPI data is even close to as good.