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COLOMBIA: BanRep Economist Survey, Petro Calls For Further Health Reform Debate

COLOMBIA
  • BanRep will publish its latest economist survey today, which will include analyst interest rate forecasts ahead of the Jan 31 MPC meeting. Last week’s CPI inflation data were seen as being consistent with the continuation of the cautious cutting cycle, but with annual CPI measures continue to track above the target band, BanRep is not expected to step up the easing pace back to 50bp at this juncture.
  • Indeed, new Finance Minister Diego Guevara said earlier this week that the central bank could pause its rate-cutting cycle later this month, suggesting that the debate could instead be between the possibility of another 25bp cut and no change later this month.
  • After today’s survey data, attention turns to November retail sales and industrial production on Friday, followed by latest trade and economic activity data next Tuesday. On the political front, President Petro announced yesterday that he will call for additional sessions in Congress to debate the health reform.
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  • BanRep will publish its latest economist survey today, which will include analyst interest rate forecasts ahead of the Jan 31 MPC meeting. Last week’s CPI inflation data were seen as being consistent with the continuation of the cautious cutting cycle, but with annual CPI measures continue to track above the target band, BanRep is not expected to step up the easing pace back to 50bp at this juncture.
  • Indeed, new Finance Minister Diego Guevara said earlier this week that the central bank could pause its rate-cutting cycle later this month, suggesting that the debate could instead be between the possibility of another 25bp cut and no change later this month.
  • After today’s survey data, attention turns to November retail sales and industrial production on Friday, followed by latest trade and economic activity data next Tuesday. On the political front, President Petro announced yesterday that he will call for additional sessions in Congress to debate the health reform.