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Hello, I'm Miryam Campbell, Molto RE’s Managing Editor, joining you from London. This is Molto News, Markets, with your South America report. These are selected developments from the region, drawn from dated original releases.

Published on 30 October 2026. The Board of Directors of Banco de la República has decided to maintain the monetary policy interest rate at 12.25% following a majority vote. Annual inflation in September rose to 6.3%, slightly below market expectations. Core inflation, which excludes food and regulated prices, decreased from 6.1% in August to 6.0% in September. The El Niño phenomenon poses a significant risk to the inflation trajectory of food and regulated items. Economic analysts expect inflation to reach 6.9% by December 2026, with two-year inflation expectations remaining around 4.0%. Inflation expectations derived from public debt securities are above the 3% target. The Colombian economy's annual growth is estimated to have slowed in the third quarter, indicated by domestic demand indicators showing slower consumption growth in both the private and public sectors. The Economic Monitoring Indicator for August and manufacturing and retail trade surveys suggest weak performance across economic sectors.

Published on 30 October 2026. The Board of Directors of the Banco de la República has authorized the direct purchase of USD 2 billion by the Government of the Republic, to be executed through the General Directorate of Public Credit and Treasury of the Ministry of Finance and Public Credit. This purchase will take place for the remainder of 2026 at the prevailing Market Representative Rate on the day of the transaction. The decision comes amid high international uncertainty and tight financial conditions, making it prudent to bolster international reserves. This move is part of the bank's ongoing program to accumulate reserves since August 2026, which will continue under the same conditions and timeline as previously announced. The magnitude of the approved operation is designed to consider its impact on peso liquidity in the economy and to implement compensatory measures, ensuring short-term interest rates align with the monetary policy rate set by the Board.

That is your South America markets report. You can read the full transcript and follow the original sources on the Markets page. I'm Miryam Campbell for Molto RE.