Free Trial

BanRep Economist Survey Now Sees Overnight Rate At 6.5% By June

COLOMBIA
  • Economists raised interest rate forecasts and now see it at 6.5% by June, according to the median forecast in the bank’s Feb. survey vs the estimated 5.5% for Dec. in the previous survey.
    • Next rate move to be a 100bps increase in March
    • 2022 year-end inflation raised to 5.44% from 4.48%
    • 2023 year-end inflation raised to 3.69% from 3.50%
  • The IMF estimates the Colombian economy will expand by 4.5% this year supported by private consumption, investment and prospects of higher commodity exports after the nation posted growth of 10.6% in 2021, IMF mission chief for Colombia Hamid Faruqee told reporters.
    • Sees fiscal deficit at 6.2% of GDP this year on stronger fiscal revenue coming from faster economic growth.
    • Says there’s no information about a possible extension of the flexible credit line that expires April 30.

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.