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BanRep Interest Rate Decision Scheduled At 1900BST / 1400ET

COLOMBIA
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  • All of the surveyed estimates for the BanRep meeting point to the central bank cutting the overnight lending rate by 50bp to 11.75% today (1900BST/1400ET). The monetary policy backdrop has been shaken in recent weeks by a series of financial and geopolitical developments, adding uncertainty to the rate cutting path ahead. Cautious messaging and the lack of further inflation data point to the easing pace not being accelerated at this juncture, although another split vote is highly likely given finance minister Bonilla’s stance on bolder action to promote growth.
  • The full MNI preview with analyst views is here.
  • Meanwhile, March unemployment data are due to be released at 1600BST(1100ET), with analysts expecting the urban unemployment rate to decline to 11.1%, from 11.6%.
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  • All of the surveyed estimates for the BanRep meeting point to the central bank cutting the overnight lending rate by 50bp to 11.75% today (1900BST/1400ET). The monetary policy backdrop has been shaken in recent weeks by a series of financial and geopolitical developments, adding uncertainty to the rate cutting path ahead. Cautious messaging and the lack of further inflation data point to the easing pace not being accelerated at this juncture, although another split vote is highly likely given finance minister Bonilla’s stance on bolder action to promote growth.
  • The full MNI preview with analyst views is here.
  • Meanwhile, March unemployment data are due to be released at 1600BST(1100ET), with analysts expecting the urban unemployment rate to decline to 11.1%, from 11.6%.