Economy

The Federal Reserve (US central bank) Wednesday increased its reference rates by a quarter of a percentage point, and announced that it expects new increases after this eighth consecutive rise, in a context of inflation that is moderating "but remains high." Fed rates have now reached a range of 4.50 and 4.75 percent.(Also read: Banco de la República completes its 12th rate hike and takes it to 12.75%) "Recent indicators show a moderate growth in expenses and production," remarked the Fed Monetary Policy Committee (FOMC) in a statement after two days of meeting, the first of the year. "Inflation moderated…

The Mining and Energy Planning Unit (Upme) assured that no risk of blackout in the short term by the state of the electrical system of the area called Centro Oriental, within which the city of Bogotá is included.This clarification comes after the former Vice Minister of Energy, Belizza Ruiz, warned of this risk in an interview with EL TIEMPO, which was confirmed by Enel Colombia and Grupo Energía Bogotá (GEB).(Also read: GEB and Enel confirm risk of blackout in Bogotá due to opposition to key projects) Upme explained that the Central Eastern area is made up of the networks of…

After the definition of the profile and the calendar of the process by the National Committee of Coffee Growers, the call to apply as a candidate for the position of General Manager of the National Federation of Coffee Growers (FNC) to replace Roberto Vélez Vallejo, who resigned in December after President Gustavo Petro asked him to leave management.The name of the general manager of the Federation, who will have the challenge of maintaining union unity and continuing to improve on economic, social and environmental issues, will finally be known on next April 18.(You can also read: Gasoline Price: How Far…

In order to reduce the gap that the Fuel Price Stabilization Fund (FEPC), the Government defined last year a plan to gradually raise the price of gasoline.With the one in February, five months of consecutive increases in the cost of gasoline have already been completed, which add up to approximately 1,243 pesos. On the other hand, diesel has risen 57 pesos.(You can also read: Does gasoline go up to $254 in Colombian cities starting today?) In October, November and December 2022, the increase was 200 pesos per gallon. In January, the average increase was 389 pesos per gallon for gasoline…