October 01, 2024 11:49 GMT
MNI BanRep Review – Sep 2024: Board Maintains Easing Pace
The Colombian central bank decided to cut the overnight lending rate by 50bp to 10.25% at its September meeting.
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Executive Summary
- The Colombian central bank decided to cut the overnight lending rate by 50bp to 10.25% at its September meeting.
- The decision was split, as expected, but with three members of the committee now voting for a larger 75bp move.
- For now, a narrow majority of the Board remain cautious about risks to the inflation outlook, as well as the ongoing fiscal challenges, and are reluctant to step up the easing pace at this juncture.
- However, some analysts see scope for the central bank to accelerate the pace of rate cuts to 75bp in October, assuming no upside surprises to the incoming inflation data.
Click to view the full review: MNI BanRep Review - September 2024.pdf
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