Free Trial

Finance Minister Steps Up September Easing Rhetoric

COLOMBIA
  • Finance Minister Ricardo Bonilla has strengthened his rhetoric regarding potential monetary easing later this year. Speaking to El Tiempo, Bonilla said that he now expects the central bank to begin lowering borrowing costs in September. This is a slight adjustment to comments made last week at a Credicorp event where Bonilla mentioned that BanRep might start interest rate cuts in September or October if inflation continues its slowing trend. At that event, Bonilla detailed that Colombia could cut interest rates by 200 basis points this year from the current 13.25%.
  • Bonilla was also quoted as saying that the Colombian government doesn’t want to see further strengthening of Colombia’s peso and would welcome a stable exchange rate.
  • This week the data docket remains quiet with just industrial and retail confidence figures scheduled. As a reminder, BanRep will meet on July 31.

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.