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Local Markets Reopen Following Holiday, BanRep Meeting Thursday

COLOMBIA
  • BanRep will meet on Thursday. As of writing, 12/20 surveyed analysts are expecting the central bank to increase the pace of tightening, hiking the overnight lending rate by 150bps to 7.5%.
    • A full preview with analyst views will be published on Wednesday.
    • Today, the Central Bank will publish the results of their latest Traders Survey.
  • As a reminder, President-elect Gustavo Petro on Saturday named Alvaro Leyva Duran as the foreign minister in his cabinet, ahead of Petro's inauguration in August.
    • Leyva, who has been a presidential candidate, has often served as a mediator between armed groups in the Colombian conflict.
    • “It will be a foreign ministry of Peace,” Petro said in a message on Twitter. “Colombia will contribute to the world all its energy to overcome the climate crisis and from the world we expect all the energy to overcome our endemic violence.”

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