Cardenas says Colombia needs rate cut

Finance Minister Mauricio Cardenas says Colombia needs to cut interest rates further as inflation is on course to reach its target by year end, contrasting with the more cautious comments of the new central bank governor.

“All the models forecast that inflation will be back within that range, between 2 and 4 percent,” Cardenas said. “I very much hope that we’ll continue cutting rates.”

Source: Bloomberg