LatAm Daily | Imports in Colombia fall leading to a trade deficit of USD14.5bn

The trade balance stood at -USD14.5bn driven by the decrease in imported fuel oil and capital goods. December's consumer confidence fell in line with lower retail sales, while industrial production recovered mainly thanks to the start of operations at the Cartagena refinery. We expect COPOM to keep the Selic rate on hold today in Brazil despite its recent hawkish tone.

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