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BanRep Not Considered Intervention IN FX Market

COLOMBIA
  • It is worth noting that a BanRep Board meeting is on the calendar for today. This is a regular scheduled meeting with no monetary policy decision being made.
  • Central bank chief Leonardo Villar spoke at a conference organized by Banco Itau in Bogota, reiterating that BanRep has not considered fx intervention and that the FX floating policy has yielded well.
    • Villar also said Colombia must do all it can to ease external deficit. He added the current account deficit may be harder to finance on tougher conditions.
    • 2022 current account deficit seen at 5% of GDP.

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