Free Trial

BanRep Interest Rate Decision Due At 1800GMT

COLOMBIA
  • BanRep is expected to accelerate the pace of rate cuts at its MPC meeting today, with a decision due at 1800GMT(1400ET). A majority of analysts are looking for a 50bp move to 12.25%, with risks skewed towards a slightly larger cut.
  • A further decline of inflation and inflation expectations means that real rates have risen since the last meeting, which along with weak activity supports the case for a larger rate move. The continued divergence of views among the committee, however, means that the decision is unlikely to be unanimous.
    • The full MNI preview with analyst views is here.
  • Separately, Ecopetrol is due to elect five new board members in a shareholder meeting at 1900GMT. It was previously reported that Ecopetrol Board members had objected to President Petro’s attempt to introduce new directors to the company, saying that none of the five candidates proposed by him have the experience needed to run the business. Despite these objections, the new members are expected to be elected later.

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.