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BanRep Economist Survey Raises Year-End Inflation Estimates

COLOMBIA
  • The central bank has published the results of its most recent survey of economists:
    • Next rate move to be a 50bps cut in December 2023
    • 12-mth inflation cut to 5.74% from 5.78%
    • 24-mth inflation raised to 3.96% from 3.90%
    • 2023 year-end inflation raised to 9.59% from 9.48%
    • 2024 year-end inflation raised to 5.32% from 5.00%
    • 2023 year-end USDCOP rate now 4164 from 4100
    • 2024 year-end USDCOP rate now 4155 from 4085 (BBG)
  • Importantly, this survey now sees no action at the October BanRep policy meeting.

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