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.
MNI Colombia Central Bank Preview - Dec 2022
Executive Summary
- The majority of surveyed analysts expect BanRep to hike the overnight lending rate by 100bps to 12.00%.
- A deterioration in both inflation data and short & medium-term expectations, warrant maintaining a hawkish posture at the December meeting.
- However, a potentially more dovish board composition and the closer proximity to analysts’ consensus for the terminal rate forecast could prompt fresh guidance for more moderate rate increases in 2023. Furthermore, the potential for a split board, or even a smaller adjustment, should not be entirely ruled out at this meeting.
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MNI BanRep Preview - December 2022.pdf
November Inflation Data Extends Steep Rise To 12.53%
Both annual headline and core readings have continued their upward trajectory. In November, CPI rose to 12.53% from 12.22% Y/y and annual core CPI clocked in at 9.48%, up from 8.32% before the last BanRep meeting.
Furthermore, expectations have also deteriorated. Within the latest central bank survey of economists released on November 15, the median forecast for year-end inflation was revised up to 12.22% which may see an even greater adjustment in Thursday’s survey. Additionally, the further contamination of medium-term expectations was also evident, with 2023 year-end inflation rising to 7.50 from 6.74%.
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.