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COLOMBIA: BanRep's Villar Says High Rates Have Hit Growth Less Than Expected

COLOMBIA
BulletEM BulletEmerging Market News
  • Comments from BanRep’s Villar are crossing the wires, with the Governor continuing to strike a cautious tone, noting that inflation has been stickier than regional peers and remains significantly above the 3% target. He adds that the US tariff policy may increase inflation risks this year.
  • On the growth backdrop, he sounds more constructive, saying that high interest rates have hit growth less than forecast and that he is starting to see some improving credit indicators. He still sees GDP growth coming in at 2.6% this year.
  • Recall that concerns over inflation risks and rising inflation expectations prompted BanRep to stay on hold last month, although the Board signalled that rate cuts will continue, at a pace dependent on the incoming data.
    • "*VILLAR SEES COLOMBIA CPI RISKS FROM INTERNATIONAL FACTORS" - BBG
    • "*VILLAR: COLOMBIA CPI REMAINS `SIGNIFICANTLY' ABOVE 3% GOAL"
    • "*VILLAR: COLOMBIA'S HIGH RATES HIT GROWTH LESS THAN FORECAST"
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  • Comments from BanRep’s Villar are crossing the wires, with the Governor continuing to strike a cautious tone, noting that inflation has been stickier than regional peers and remains significantly above the 3% target. He adds that the US tariff policy may increase inflation risks this year.
  • On the growth backdrop, he sounds more constructive, saying that high interest rates have hit growth less than forecast and that he is starting to see some improving credit indicators. He still sees GDP growth coming in at 2.6% this year.
  • Recall that concerns over inflation risks and rising inflation expectations prompted BanRep to stay on hold last month, although the Board signalled that rate cuts will continue, at a pace dependent on the incoming data.
    • "*VILLAR SEES COLOMBIA CPI RISKS FROM INTERNATIONAL FACTORS" - BBG
    • "*VILLAR: COLOMBIA CPI REMAINS `SIGNIFICANTLY' ABOVE 3% GOAL"
    • "*VILLAR: COLOMBIA'S HIGH RATES HIT GROWTH LESS THAN FORECAST"