CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Goldman Sachs on BanRep Minutes Released Overnight

COLOMBIA
  • The minutes from the December 17 MPC meeting show that all MPC members believe that withdrawing the monetary stimulus is warranted given the increases in current and expected inflation and the vigorous growth momentum (narrowing of the output gap).
  • Four of the seven MPC members advocated increasing the policy rate by 50bp to 3.00%. The four directors considered that, although the higher current and expected inflation and strong growth justify continuing with the withdrawal of the monetary stimulus, they do not believe that it is convenient to accelerate the pace of adjustment and favor not surprising the market.
  • In turn, three dissenting directors voted to increase the policy rate more aggressively with a bolder 75bp. The three hawkish directors expressed concerns not only about the higher than expected and accelerating inflation and the deteriorating inflation expectations, but also about structural factors such as the inability of supply to meet the higher demand. Furthermore, the three dissenting directors argued that the recent increase in the minimum wage, above what could be justified by realized inflation and productivity gains, could contribute to the de-anchoring of inflation expectations.
  • In their assessment the MPC will continue to normalize policy in the coming meetings, with the monetary policy crossing its neutral level to reach a slightly restrictive monetary stance next year (policy rate at 5.50% by end-2022).
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.