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COLOMBIA: Analysts Expect 25bp January Rate Cut, According To BanRep Survey

COLOMBIA
  • BanRep has published its latest economist survey, revealing that the majority of analysts expect another 25bp interest rate cut at the next monetary policy meeting on January 31. 82.1% of analysts see a 25bp move to 9.25% this month, while 12.8% see the central bank staying on hold and just 5.1% a re-acceleration in the easing pace to 50bp. The policy rate is expected to end this year at 7.00%, up from 6.50% in last month’s survey.
  • Meanwhile, headline inflation is now seen ending this year at 4.04% y/y, up from 3.90% last month, while the end-2026 CPI estimate rose to 3.60%, from 3.49%.
  • Core inflation is expected to end this year at 4.02%, up from 3.82% in the previous survey, while the end-2026 core CPI forecast rose to 3.53%, from 3.30%.
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  • BanRep has published its latest economist survey, revealing that the majority of analysts expect another 25bp interest rate cut at the next monetary policy meeting on January 31. 82.1% of analysts see a 25bp move to 9.25% this month, while 12.8% see the central bank staying on hold and just 5.1% a re-acceleration in the easing pace to 50bp. The policy rate is expected to end this year at 7.00%, up from 6.50% in last month’s survey.
  • Meanwhile, headline inflation is now seen ending this year at 4.04% y/y, up from 3.90% last month, while the end-2026 CPI estimate rose to 3.60%, from 3.49%.
  • Core inflation is expected to end this year at 4.02%, up from 3.82% in the previous survey, while the end-2026 core CPI forecast rose to 3.53%, from 3.30%.