Snapshot
The economy continues to grow strongly despite global uncertainties. Industrial production recorded its fastest growth rate in more than three years, with a 9.5% year-on-year expansion in August. On the downside, consumer confidence deteriorated in September, although remaining firmly in optimistic territory. Meanwhile, the Central Bank decided to change its intervention mechanism in the foreign exchange market. With the new program, the Bank uses derivatives if the currency fluctuates by more than 4% from its 20-day average. On the political front, on 4 October, Alfonso Cano, the leader of the FARC guerrilla, was killed in an air raid.
