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Despite the new narrative, the peso is where it should be — and Colombia's currency is hardly ever touched by domestic events.

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.

As we could see from the BVC's Twitter account, the Asobolsa event in Cartagena was a day of soundbites and few ideas or solutions.

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

Congress is back (collective groan), and the word "reform" is set to dominate the agenda between now and the arrival of Father Christmas.

Despite opinion polls declaring we are heading for Armageddon, we see various stakeholders increasing the GDP outlook.

For April, unemployment was 10.7% — down from 11.2% a year ago — and there was a 3.5% increase (785k) in the number of people working year over year

“It’s as if all the stars lined up for us and what you saw were the results as of 2022, where we were able to grow 44%”