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COLOMBIA: Bonilla Says BanRep Unlikely To Cut By More Than 50bp In December

COLOMBIA
BulletEM BulletEmerging Market News
  • Finance Minister Bonilla has said that a majority of the BanRep board is not likely to support an interest rate reduction of more than 50bp at the December meeting. Speaking to reporters in Bogota, he said that the best chance to accelerate the easing cycle was in September, according to Bloomberg.
  • Regarding October CPI inflation, Bonilla said that policymakers should be surprised that monthly inflation was negative. Meanwhile, officials and business leaders will start negotiations on the 2025 minimum wage increase on Nov 28, with Bonilla saying that the increase should be around 1pp above observed inflation.
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  • Finance Minister Bonilla has said that a majority of the BanRep board is not likely to support an interest rate reduction of more than 50bp at the December meeting. Speaking to reporters in Bogota, he said that the best chance to accelerate the easing cycle was in September, according to Bloomberg.
  • Regarding October CPI inflation, Bonilla said that policymakers should be surprised that monthly inflation was negative. Meanwhile, officials and business leaders will start negotiations on the 2025 minimum wage increase on Nov 28, with Bonilla saying that the increase should be around 1pp above observed inflation.