Electric generation firms are in a good position after they "successfully weathered low hydrology conditions...with only moderate impacts on profitability and liquidity."
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.
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.