Free Trial
JPY

Y137.00 Comes Under Attack

JGB TECHS

(U2) Off Lows, But Still Fragile

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
COLOMBIA

Released over the weekend:

  • Colombia Feb. consumer prices rise 1.63% m/m; est. +1.28%
  • Colombia Feb. consumer prices rise 8.01% y/y; est. +7.61%
  • Colombia Feb. core CPI rises 1.28% m/m
  • Colombia Feb. core CPI rises 5.10% y/y

JPMorgan: BanRep to move 150bp in March

  • JPM continue to think the prevailing backdrop for inflation is consistent with BanRep needing to deliver an unprecedented 150bp hike at the March 31 meeting, to take the policy rate to 5.5%.
  • Notwithstanding the global crosscurrents (higher risk, but higher oil price), their modal forecast absent a confidence shock related to elections would be for BanRep to stop the cycle at 6.5%.
  • But JPM remain of the view that risks for the repo rate are to the upside. Next Sunday’s congressional and primary elections will prove a key milestone ahead of the May 29 presidential first round and likely June 19 run-off.

Goldman Sachs

  • GS expect the MPC to continue normalizing monetary policy in the upcoming meetings, with the policy rate crossing its neutral level to reach a restrictive monetary stance (policy rate at least at 7.00% by the end of 2022).
  • In their assessment, an above-neutral monetary stance is warranted given the strong growth, visibly above-target inflation, drifting inflation expectations, a challenging fiscal outlook, an uncertain political environment, and a large current account deficit that could become more difficult to finance as global financial conditions tighten.
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.