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Central Bank Preview – 1900BST/ 1400ET

COLOMBIA
  • MNI POV - The Monetary Policy Committee are likely to keep the overnight lending rate unchanged at 1.75%. Inflation expectations remain well anchored, in line with the central bank's target.
  • Despite a dip in June CPI, increases in core prices as well as base effects over the coming months may provide a more challenging inflation outlook for the MPC.
  • The consensus among sell-side analyst appears to point to monetary tightening being initiated as early as September and therefore, to avoid any abrupt policy shift, the committee's communication may become marginally more hawkish.
  • The full preview with analyst views can be found here: https://roar-assets-auto.rbl.ms/documents/11354/MNI%20BanRep%20Preview%20-%20July%202021.pdf

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