The yield on the country’s 9.25 percent bonds due in May 2014 rose four basis points, or 0.04 percentage point, to 6.17 percent at 9:47 a.m. Bogota time. That’s its biggest increase since Oct. 21. The price fell 0.122 centavo to 106.953 centavos per peso.
“The central bank sent a hawkish signal,” said Daniel Lozano, an analyst at Serfinco SA brokerage in Bogota. “We’ve seen less risk aversion in October, and as that continues and internal dynamics remain strong” the central bank may raise interest rates 25 basis points to 4.75 percent next month, he said.
Policy makers on Oct. 28 left the overnight lending rate unchanged at 4.5 percent for a third month, matching the forecasts of 28 of 29 economists surveyed by Bloomberg. The decision wasn’t unanimous, central bank chief Jose Dario Uribe told reporters.
A lending boom in Colombia has fueled the biggest jump in retail sales in more than a decade and faster-than-forecast inflation in September, making Colombia the only Latin American country where traders expect interest-rate increases this year.
Latin America’s fifth-largest economy will expand as much as 6.5 percent this year, according to the central bank. That compares with 4.3 percent in 2010 and would be the fastest growth since 2007. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
European Stocks market
- Stoxx Europe 600 index Forecast 2013
- European Stock Market Forecast 2013
- European stock market and Italian bonds down dec 11 2012
- Europe stock markets advanced october 17 2012
- European stock market will open down october 12 2012
- Mario Draghi ECB Press Conference october 4 2012
- European stock markets higher october 2 2012
- european stock futures down october 1 2012
- European stock market rose september 28 2012
- impact protests in Greece and Spanish on stock market
- Effect Spanish recession on stock market
- European stock market drop 9-26-2012
- European Stock markets september 21 2012
- European stock markets 9/18/2012
- European stock markets lower september 17 2012
- European stock futures down 9/10/2012
- German constitutional court decision prediction
- Euro govt Bonds fall before ECB meeting 9/6/2012
- European stock markets sept 6 2012
- European Stock markets rose september 3 2012
- Eurozone Purchasing Managers PMI report 3 september 2012
- ECB President Mario Draghi will speech at Brussels sept 3 2012
- Europe economic forecast September 2012
- European stocks market august 31 2012
- Expectations ECB will bond buying plan
No comments:
Post a Comment