Alleged inmate relationship with officer in Bernalillo County Jail sparks concern
Arizona election-security laws reinstated by US appeals court
SEC rules Fox can skip vote on labeling TV opinion shows
Prospects for a Gaza ceasefire dim even as US keeps hope
Reform leader Nigel Farage says his party will win next UK election
Biden readies $375 million arms aid package for Ukraine
Gold breaks $2,600 barrier as Fed cut bets prolong historic run
Murdoch-backed REA sweetens offer for UK's Rightmove to nearly $7.9 billion, FT reports
Widener University's Beyoncé course allows students to explore her influence on African-American culture
New York magazine says its star political reporter is on leave after a relationship was disclosed
BOGOTA (Reuters) -Colombia's central bank technical team revised its inflation outlook for the year to 5.7%, from a previous 5.5%, it said in a quarterly report published on Friday.
The new forecast is still above the specific long-term inflation goal established by the central bank, of 3%.
For 2025, the technical team at the central bank expects inflation at close to 3%. The team's considerations are taken into account by the bank's board of directors for its monetary policy decisions.
"In the remainder of 2024 and towards 2025, levels of economic activity could continue to recover, in an environment of external financing conditions that gradually become less tight and a less restrictive monetary policy," the report said.
Colombia's 12-month inflation through the end of June was 7.18%.
For the second quarter of 2024, the technical team forecast growth of 1.8%. The government's DANE statistics agency will publish second-quarter growth data on Aug. 15.
On Wednesday, Colombia's central bank cut its benchmark interest rate by 50 basis points to 10.75%, its sixth cut since December.
(Reporting by Nelson BocanegraWriting by Oliver Griffin and David Gregorio; Editing by Diane Craft)
