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BanRep's Steiner Due To Speak, Confidence Data Declines

  • 1530ET and local: Colombia Central Bank Co-director Roberto Steiner speaks about monetary policy during a virtual event organized by Bancolombia.
  • Colombia's consumer confidence fell more than economists expected in February. The figure fell to -17.5 (estimate -15.1) in Feb from -13.5 in January, according to Fedesarrollo.
  • Despite the tailwinds associated with the oil price surge for the Colombian peso, upcoming elections may start to garner more focus for local markets.
    • Senator Gustavo Petro, who is calling for a new economic model and a shift away from oil and coal, has been leading in polls with more than double the support of any of his rivals, which may enhance lingering uncertainties.
  • For reference, this Sunday, March 13, Colombia will hold elections to renew both the upper and lower chambers of congress.
  • Additionally, primary elections will take place in order to define the candidate of three of the main coalitions that will proceed to the first-round presidential election on May 29.

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