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BanRep Decision Due Friday, Economists Split Over Rate Forecast

COLOMBIA
  • The majority of surveyed analysts expect BanRep to hike the overnight lending rate by 100bps to 13.00% at the January meeting.
  • A deterioration in both headline and core CPI data as well as short & medium-term inflation expectations warrant maintaining a hawkish posture at the January meeting.
  • However, there remain a notable minority looking for a more moderate hike and given the most recent comments from finance minister Ocampo on not seeing the need for further tightening, particular significance is placed on Friday’s decision/statement.
    • The full MNI preview with analyst views is here.

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