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Goldman Sachs on Banrep: At Least Two 25bp Hikes This Year

COLOMBIA
  • Overall, the MPC is of the view that liftoff is nearing but the majority of directors were not ready to do it already at this meeting.
  • In their assessment, a gradual reduction of the degree of monetary accommodation is warranted, given the recent growth (large Q1 positive growth surprise) and inflation dynamics, widening current account deficit (in excess of 4% of GDP), hawkish regional and global monetary developments, and rising risk-premia given the negative fiscal developments, sovereign rating downgrades, and unsettled political and social backdrop.
  • At this stage GS are anticipating policy rate liftoff in the very near-term, with at least two 25bp rate hikes before the end of 2021, and with the policy rate reaching 3.50% by end-2022.
EM BulletHomepageGoldman Sachs Market NewsBulletEmerging Market News
EM BulletHomepageGoldman Sachs Market NewsBulletEmerging Market News

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