MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Thursday

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Analysts Expect 50bp June Rate Cut, Raise Year-End Forecast To 8.5%

COLOMBIA
BulletEM BulletEmerging Market NewsHomepage
  • The latest BanRep economists survey revealed that analysts expect 50bp rate cuts at the next two monetary policy meetings in June and July, before the pace of easing picks up to 75bp after that. The year-end rate forecast edged up to 8.5%, from 8.25%, where it had been since late last year. The end-2025 estimate remained unchanged at 5.5%.
  • As noted earlier, President Petro and Finance Minister Bonilla met with the BanRep board yesterday to discuss interest rate cuts. Both believe that high rates are weighing on the economy and have been arguing for a faster pace of easing. The next BanRep MPC meeting is on June 28.
  • Meanwhile, the estimate for end-2024 headline inflation edged up by 2bp to 5.62%, while the estimate for end-2025 CPI rose by 1bp to 3.82%. Estimates for core inflation for end-2024 and end-2025 rose by 2bp and 12bp, respectively. On the other hand, the one-year-ahead inflation expectation declined by 5bp to 4.58%.
157 words

To read the full story

Close

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.
  • The latest BanRep economists survey revealed that analysts expect 50bp rate cuts at the next two monetary policy meetings in June and July, before the pace of easing picks up to 75bp after that. The year-end rate forecast edged up to 8.5%, from 8.25%, where it had been since late last year. The end-2025 estimate remained unchanged at 5.5%.
  • As noted earlier, President Petro and Finance Minister Bonilla met with the BanRep board yesterday to discuss interest rate cuts. Both believe that high rates are weighing on the economy and have been arguing for a faster pace of easing. The next BanRep MPC meeting is on June 28.
  • Meanwhile, the estimate for end-2024 headline inflation edged up by 2bp to 5.62%, while the estimate for end-2025 CPI rose by 1bp to 3.82%. Estimates for core inflation for end-2024 and end-2025 rose by 2bp and 12bp, respectively. On the other hand, the one-year-ahead inflation expectation declined by 5bp to 4.58%.