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BanRep Decision Due in One Hour, Broadly Expected To Hike 100BPs

COLOMBIA
  • The majority of surveyed analysts expect BanRep to hike the overnight lending rate by 100bps to 11.00%. The decision and press conference are scheduled for 1900BST/1400ET.
  • Further aggressive monetary tightening is deemed necessary amid rising inflation data, deteriorating inflation expectations and concerning pressures on domestic financial markets.
  • Surveyed outcomes range from +50bp to +150bp hikes, with some analysts highlighting the possibility of an FX intervention announcement despite the board’s comments suggesting it will not be implemented.
  • Full MNI preview with analyst views here: https://roar-assets-auto.rbl.ms/documents/19915/MNI%20BanRep%20Preview%20-%20October%202022.pdf

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