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COLOMBIA: BanRep Co-Director Steiner Says Fiscal Risks Make It Harder To Cut Faster

COLOMBIA
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  • Speaking in a webcast for an event organised by Corficolombiana, BanRep co-director Roberto Steiner said that the country's fiscal outlook is a big concern and makes it harder to ease monetary policy at a faster pace. He added that BanRep must avoid the rate cut reversal seen in Brazil.
  • Steiner also said that October CPI inflation data may not be good and that the central bank needs to remain cautious due to inflation risks.
  • His remarks come ahead of the Oct 31 BanRep monetary policy meeting, when the Board will consider whether to deliver another 50bp rate cut, or step up the pace to 75bp. The recent BanRep economist survey suggests a slight majority of analysts expect a 75bp move, while the latest Bloomberg survey points to another 50bp cut.
    • "*COLOMBIA FISCAL POLICY MAKES IT HARDER TO EASE FASTER: STEINER" - BBG
    • *COLOMBIA OCTOBER INFLATION DATA MAY NOT BE GOOD: STEINER
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  • Speaking in a webcast for an event organised by Corficolombiana, BanRep co-director Roberto Steiner said that the country's fiscal outlook is a big concern and makes it harder to ease monetary policy at a faster pace. He added that BanRep must avoid the rate cut reversal seen in Brazil.
  • Steiner also said that October CPI inflation data may not be good and that the central bank needs to remain cautious due to inflation risks.
  • His remarks come ahead of the Oct 31 BanRep monetary policy meeting, when the Board will consider whether to deliver another 50bp rate cut, or step up the pace to 75bp. The recent BanRep economist survey suggests a slight majority of analysts expect a 75bp move, while the latest Bloomberg survey points to another 50bp cut.
    • "*COLOMBIA FISCAL POLICY MAKES IT HARDER TO EASE FASTER: STEINER" - BBG
    • *COLOMBIA OCTOBER INFLATION DATA MAY NOT BE GOOD: STEINER