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Oxford Economics Sees First Colombia Interest Rate Hike in July

COLOMBIA

Per Bloomberg:

  • "As signs emerge that inflationary pressures are finally building in Colombia, we expect BanRep to use its June policy meeting to lay out its plan for withdrawing monetary stimulus, starting in July with a 25bp hike," analyst Felipe Camargo writes in a note.
  • See "the full normalization of Colombia's monetary cycle to occur over two years to the end of 2023", raising the benchmark rate to 4.75% from the current 1.75%.

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