Colombia’s slowest inflation since 1955 is boosting speculation the central bank will cut interest rates again this month to stoke economic growth.
Yields on three-month rate swaps have fallen 0.27 percentage point in the past month to 3.47 percent, indicating traders expect policy makers to reduce borrowing costs for a seventh time since June to a regional low 3.5 percent March 22. The cost of living rose 1.76 percent in the past year, the slowest pace in almost six decades, according to Munir Jalil, the chief economist for Colombia at Citigroup Inc. and the nation’s most-accurate inflation forecaster in Bloomberg surveys.
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