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Itaú Say Odds Of Starting Easing Cycle This Year Have Fallen

COLOMBIA
  • Following the decision, Itaú have noted the one-year ex-ante real rate sits at 7.51% (using the monthly analyst survey; +4bps from the previous meeting in September), consolidating the contractionary stance of monetary policy.
  • The odds of starting the easing cycle later this year have fallen, as BanRep's technical staff revised growth higher for this year pointing to a more gradual deceleration of economic activity, coupled with still elevated inflation expectations, inflationary pressures, and tight global financial conditions.

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