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BanRep Interest Rate Decision Due In One Hour

COLOMBIA
  • A reminder that BanRep is due to announce its interest rate decision at 1900BST(1400ET).
    • Analysts appear in agreement that BanRep will cut the overnight rate by 50bp to 11.25%, as core CPI inflation continues to decline, albeit in a gradual manner.
    • The committee is expected to maintain a cautious/hawkish tone amid an increasingly challenging fiscal backdrop, COP depreciation, tight global financial conditions and above-target inflation expectations.
    • Consistent rhetoric from Finance Minister Bonilla on the need for bolder easing strengthens the likelihood of another split vote.
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