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COLOMBIA: BanRep Interest Rate Decision, August Unemployment Data

COLOMBIA
BulletEM BulletEmerging Market News
  • Following August unemployment data at 1600BST(1100ET), BanRep will announce its latest interest rate decision at 1900BST(1400ET). The decision will be a close call as the committee weighs stepping up the easing pace, but on balance most analysts expect it to deliver another 50bp cut in the overnight rate to 10.25%.
  • While falling inflation and the Fed’s bold start to its easing cycle provide the central bank with some room to deliver a larger cut, on-going fiscal risks and concerns about the currency may prompt a more cautious approach. The vote is likely to be split once again, however, as Finance Minister Bonilla continues to argue for a faster pace of easing.
    • The MNI preview is here, while some additional analyst views ahead of the meeting can be found here. 
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  • Following August unemployment data at 1600BST(1100ET), BanRep will announce its latest interest rate decision at 1900BST(1400ET). The decision will be a close call as the committee weighs stepping up the easing pace, but on balance most analysts expect it to deliver another 50bp cut in the overnight rate to 10.25%.
  • While falling inflation and the Fed’s bold start to its easing cycle provide the central bank with some room to deliver a larger cut, on-going fiscal risks and concerns about the currency may prompt a more cautious approach. The vote is likely to be split once again, however, as Finance Minister Bonilla continues to argue for a faster pace of easing.
    • The MNI preview is here, while some additional analyst views ahead of the meeting can be found here.