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☆ Colombia's finance minister asks central bank to discuss futures markets liquidity
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, Oct 26 (Reuters) - Colombian Finance Minister Jose Antonio Ocampo has asked the country's central bank to discuss liquidity in futures markets in its monthly meeting this Friday, he said on Wednesday, at a time when local currency and public debt are experiencing turbulence from domestic uncertainty. "There is an issue that I have asked the (central) bank for us to discuss on Friday about futures markets, about how liquid or not those futures markets are," Ocampo told reporters. In 2020, during the worst of the coronavirus pandemic, Colombia's central bank took extraordinary measures to boost liquidity, such as foreign exchange hedging via auctions for the sale of dollars through forward operations, or "swaps." In a recent Reuters poll, 12 out of 14 analysts forecast the central bank will raise its benchmark interest rate by 100 basis points to 11% on Friday. One of the analysts projected a hike of 75 basis points and another forecast an increase of 50 basis points.

☆ Colombia central bank will raise rate to 11%
▼ + stars: | 2022-10-21 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +2 min

BOGOTA, Oct 21 (Reuters) - Colombia's central bank board will raise the benchmark interest rate at its meeting next week, which is likely its penultimate increase in a cycle meant to counteract inflation, analysts said in a poll on Friday. Twelve of 14 analysts surveyed said the seven-member board will increase borrowing costs by 100 basis points to 11%, while one analyst predicted a 75 basis point raise and another projected a 50 basis points uptick. The bank has increased the rate by 825 basis points since the start of this cycle in September 2021. The bank will likely make its last increase, of 50 basis points, in December, those polled said. But Ocampo acknowledged it would be difficult not to raise costs in tandem with other central banks.

☆ Colombia gov't agrees to ease tax changes to oil, mining
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterColombia's President Gustavo Petro addresses the media after a meeting, in Bogota, Colombia July 22, 2022. The threshold for the export tax on oil will now be $71 per barrel, compared to a previous $48 per barrel. The reform may not raise 25 trillion pesos in additional income next year, Ocampo said, though he did not give more details. Meanwhile a proposal to raise taxes on gasoline will be scrapped, and more changes to the bill are expected next week. Thousands marched earlier on Monday to urge changes to the reform, which would also raise taxes on those earning more than $2,259 per month, about 10 times the minimum wage, and eliminate exemptions.

☆ New book spotlights experiences of gay sons of immigrants in Los Angeles
▼ + stars: | 2022-09-19 | by ( Agnes Constante | ) www.nbcnews.com time to read: +4 min

Shortly after the 2016 shooting at a gay nightclub in Orlando, Anthony Ocampo began writing his most recent book. The book, “Brown and Gay in LA,” tells the stories of gay sons of immigrants in Los Angeles — specifically of Filipino Americans and Latinos — including his own. He wanted his writing to capture that while same-sex marriage now existed, gay men had lived lives with extreme difficulties in their families, communities and schools beforehand. “The idea that gay men aren’t men is a fallacy,” he said. “When you think of America, you hardly ever think about the queer, gay children of immigrants, even though they are very much part of the mosaic of this country,” he said.

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