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COLOMBIA: 2025 Budget Proposal Still In Focus

COLOMBIA
BulletEM BulletEmerging Market News
  • The data calendar is light this week, with no macro figures due today and August industrial and retail confidence expected on Wednesday. Attention will then turn to BanRep’s MPC meeting on Sept 30, when the central bank will consider whether to step up the easing pace to 75bp or to continue with another 50bp cut.
  • The decision looks like being a close call, with the recent BanRep economist survey showing a slight majority of analysts favouring a 75bp cut next week, but the latest analyst survey on Bloomberg suggesting that another 50bp move is more likely instead.
  • Meanwhile, the market will be watchful for developments on the fiscal front, with the economic congressional committees still to approve or reject the government’s 2025 budget proposal. Finance Minister Bonilla has previously said that he wants to reach an agreement with lawmakers to hike taxes, but the budget will be passed by decree if no agreement is reached.
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  • The data calendar is light this week, with no macro figures due today and August industrial and retail confidence expected on Wednesday. Attention will then turn to BanRep’s MPC meeting on Sept 30, when the central bank will consider whether to step up the easing pace to 75bp or to continue with another 50bp cut.
  • The decision looks like being a close call, with the recent BanRep economist survey showing a slight majority of analysts favouring a 75bp cut next week, but the latest analyst survey on Bloomberg suggesting that another 50bp move is more likely instead.
  • Meanwhile, the market will be watchful for developments on the fiscal front, with the economic congressional committees still to approve or reject the government’s 2025 budget proposal. Finance Minister Bonilla has previously said that he wants to reach an agreement with lawmakers to hike taxes, but the budget will be passed by decree if no agreement is reached.