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BanRep Decision Due Around 1800GMT/1400ET

COLOMBIA
  • BanRep are widely expected to hold the policy rate steady once again at 13.25%. The committee will likely reinforce its data dependent stance, placing the emphasis on more inflation progress before committing to any kind of easing signal. Two analysts in the Bloomberg survey are calling for a rate cut.
  • The decision to hold should be bolstered by deteriorating inflation expectations alongside the tightening of already-volatile global financial conditions in recent weeks.
  • However, given the persistent rhetoric from Finance Minister Bonilla and the administration, and the two dissenting votes for policy easing in September, markets will focus once again on the vote split, plus any potential guidance regarding the short-term outlook for monetary policy.
  • The full MNI preview is here: https://roar-assets-auto.rbl.ms/files/56564/MNI%20...

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