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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
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2024 Financing Plan, BanRep Minutes Scheduled After The Close
- Colombia’s Finance Ministry is scheduled to publish its 2024 financing program with plans for the fiscal deficit, total debt and bond sales. Additionally, the central bank will release the minutes of this week’s meeting where they decided to cut the overnight rate by 25bps to 13.00%.
- Our full review with analyst views of this meeting/decision is here: https://roar-assets-auto.rbl.ms/files/58601/MNI%20BanRep%20Review%20-%20December%202023.pdf
- As a reminder, the board were split 5-2 in favour of cutting rates with the minority preferring a hold. The minutes should give a clearer picture of the views in favour of both approaches. In the post—meeting press conference, Governor Villar stated that dissenting members sought more information on the 2024 minimum wage increase and highlighted that the central bank should be cautious in cutting rates, and that consecutive cuts should not necessarily be implied.
- Market participants will also be looking out for any further details on the decision to accumulate reserves. BanRep announced that it plans to boost international reserves with a program to buy as much as $1.5 billion, preventing a reduction in the IMF’s flexible credit line. The board approved beginning the program to maintain “appropriate external liquidity levels” without aiming at any “exchange rate objective” or altering the volatility of the currency.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.