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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.
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Free AccessMNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday
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Monetary Policy Report Lowers Year-End Inflation & Growth Forecasts
- Overnight, BanRep released the second quarter monetary policy report. The central bank’s technical staff now forecast year-end inflation at 9.0% from 9.5%. In similarly more optimistic news, core inflation is now expected at 7.9% and 3.7% in 2023 and 2024, respectively, compared to 8.9% and 3.9% previously.
- On a slightly more pessimistic note, 2024 year-end CPI was revised up a tenth to 3.5% from a prior 3.4%. Furthermore, full 2023 GDP growth is forecast at 0.9% vs. 1% previously and it is worth noting that all forecasts don’t include potential shocks of El Nino weather phenomenon on food and energy prices.
- The link to the full report is here: https://www.banrep.gov.co/en/monetary-policy-report-july-2023
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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.