MNI China Daily Summary: Wednesday, October 16

MNI: ITALY FINAL HICP +1.2% M/M, +0.7%Y/Y

MNI BRIEF: BOJ's Adachi Sees Conditions For Normalisation

MNI: PBOC Net Injects CNY581.4 Bln via OMO Wednesday

CHINA PBOC CONDUCTS CNY642.4 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1191 Weds; +2.66% Y/Y

US MBA: REFIS -26% SA; PURCH INDEX -7% SA THRU OCT 11 WK

MNI: US MBA: MARKET COMPOSITE -17.0% SA THRU OCT 11 WK

MNI: UK SEP OUTPUT PPI -0.5% M/M, -0.7% Y/Y

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COLOMBIA: President Petro Says High Rates Affecting Growth, BanRep Survey Due

COLOMBIA
BulletEM BulletEmerging Market News
  • President Petro said in a post on X yesterday that high interest rates are destroying public finances unnecessarily and affecting economic growth. He said that the main problem for debt is the high interest cost of local bonds, which are driven by the BanRep policy rate. His comments echo those of Finance Minister Bonilla, who has also said many times that high rates are weighing on growth.
  • Today, BanRep will publish its latest economist survey, including interest rate forecasts ahead of the October 31 monetary policy meeting. Following the close 4-3 vote last month to continue with the 50bp rate cut pace, focus will be on whether the committee is willing to step up the easing pace to 75bp later this month, amid an easing of inflation pressures.
  • Meanwhile, BanRep’s Governor Villar will speak at a Bogota event at 1400BST(0900ET) on the country’s new immediate payment system known as Bre-B. BanRep Co-Director Bibiana Taboada is also due to speak at the event.
160 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • President Petro said in a post on X yesterday that high interest rates are destroying public finances unnecessarily and affecting economic growth. He said that the main problem for debt is the high interest cost of local bonds, which are driven by the BanRep policy rate. His comments echo those of Finance Minister Bonilla, who has also said many times that high rates are weighing on growth.
  • Today, BanRep will publish its latest economist survey, including interest rate forecasts ahead of the October 31 monetary policy meeting. Following the close 4-3 vote last month to continue with the 50bp rate cut pace, focus will be on whether the committee is willing to step up the easing pace to 75bp later this month, amid an easing of inflation pressures.
  • Meanwhile, BanRep’s Governor Villar will speak at a Bogota event at 1400BST(0900ET) on the country’s new immediate payment system known as Bre-B. BanRep Co-Director Bibiana Taboada is also due to speak at the event.