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Oxford Economics See 100 BPS Of Hikes By Year-End

COLOMBIA
  • Colombia return from Corpus Christi Day Holiday.
  • According to a senior economist at Oxford Economics - Colombia's central bank will probably begin a "pre-emptive" policy normalization cycle in July, with four straight 25bp hikes to reach 2.75% by year-end
    • Firm increased its inflation forecast for 2021 to 4.2% from 3.3% after Friday's reading.
    • "Given this new baseline for inflation and the recent rise in long term yields, BanRep is now left with very little space to sustain its accommodative policy stance".
  • This comes following the June 5th release: Colombia Inflation Jumps Most Since 1998 as Unrest Hits Supplies

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