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COLOMBIA: Economists Forecasting 75BP Rate Cut in September

COLOMBIA
  • In the latest BanRep survey of economists, consensus sees the central bank steeping up the pace of easing in September and cutting the key rate by 75bps to 10.00%. Additionally, the 2024 year-end CPI projection has been cut, as well as 12-month ahead median forecast. Details of the results are as follows:
    •    Next rate move to be a 75 bps cut in Sept. 2024
    •    12-mth inflation cut to 4.05% from 4.23%
    •    24-mth inflation held at 3.45%
    •    2024 yr-end inflation cut to 5.63% from 5.68%
    •    2025 yr-end inflation cut to 3.80% from 3.81%
    •    2024 yr-end exchange rate lowered to 4044 from 4050 COP/USD
  • Separately, trade balance and imports data is scheduled to be released today at 1600BST/1100ET:
    •    June Trade Balance, est. -$570m, prior -$798.5m

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