Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused imbalances for Colombia
The governor of the Central Bank of Colombia has explained the monetary policy dilemma the country has been facing, amid external headwinds that have caused macroeconomic imbalances.
In the bank’s inaugural quarterly report, which seeks to inform the general public about changes in Colombia’s economic environment, Juan José Echavarría said the combined effect of lower commodity prices, greater external financing costs and low growth in the region posed a “strong dilemma” for monetary policy.
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