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BanRep's Taboada Says Need To Be Cautious With Interest Rate Cuts

COLOMBIA
  • Comments hitting the wires from BanRep co-director Taboada:
    • Colombian economic growth will be low this year
    • Colombia needs to be cautious with interest rate cuts
    • Colombia inflation seen slowing to 3% by mid 2025
    • Colombia needs strong disinflation data to ease policy
    • Colombia hasn't seen significant effects from El Nino (BBG)
  • Having not heard from Bibiana Taboada for some time, it is unclear whether she voted for the 25bp cut in December or was one of the two dissenting members that preferred to keep the policy rate steady. Her cautious tone of wanting to see strong disinflation reiterates the ongoing data dependent nature of the committee.

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