MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BBVA: Possible And Necessary For BanRep To Accelerate Cutting Pace Again

COLOMBIA
  • Despite the easing pace acceleration, with the observed or expected reduction in inflation, the effects on the real interest rate are still modest and monetary policy remains contractionary.
  • The Board is making monetary policy decisions trying to achieve a balance between the necessary reduction in the intervention rate and the persisting inflation. Inflation has already come down from its peak of 13.34% in March 2023 to 7.7% in February but the adjustment process to reach the inflation target range will extend until mid-2025. It is also true, as Banrep says, that the inflation reduction process is not free of upside risks, but the signs of a reduction are positive.
  • However, BBVA Research believe that it is possible and necessary for the Board of Banrep to accelerate again the cycle of monthly cuts in the next meetings due to a mitigation of some inflationary risks and the slow growth of economic activity expected for the first half of 2024, but especially due to the slow recovery expected for 2025. The latter goes hand in hand with an economy that no longer shows excess demand.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.