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MNI Colombia Central Bank Review - June 2024: Faster CPI Convergence Needed For Bolder Easing

MNI Colombia Central Bank Review - June 2024

MNI Colombia Central Bank Review - June 2024

Executive Summary

  • The Colombian central bank decided to cut the repo rate by 50bp to 11.25% at its June meeting. The decision was split, as expected, with two members of the committee voting for a 75bp move and one member absent.
  • The outcome was in line with market expectations, and the still cautious statement suggests that the central bank will continue cutting at the same 50bp pace for the time being.
  • Beyond July, some analysts still see scope for the easing pace to be accelerated to 75bp.

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MNI BanRep Review - June 2024.pdf

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