MNI: PBOC Net Drains CNY139 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1710 Weds; -1.55% Y/Y

MNI China Press Digest Feb 12: Consumers, Autos, FDI

MNI BRIEF: Fed's Powell - Neutral Rate Has Risen Meaningfully

MNI BRIEF: Fed Would Use QE Only When Rates At Zero - Powell

MNI BRIEF: Fed's Hammack Says Rate Hike Not In Base Case

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK Bond Supply Calendar: France Syndication "Near Future"

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COLOMBIA: Petro Expected To Appoint Key Ally As Foreign Affairs Minister

COLOMBIA
BulletEM BulletEmerging Market News
  • President Petro is expected to appoint key ally Laura Sarabia, as the country’s next foreign affairs minister, according to reports on Bloomberg. Sarabia will replace Luis Gilberto Murillo who announced his resignation earlier this week. Before joining Petro’s campaign, Sarabia worked for former Colombia ambassador to Venezuela Armando Benedetti. Meanwhile, Interior Minister Cristo said that the government will declare a state of internal unrest but ruled out declaring an economic emergency, amid violence in the Catatumbo region near the Venezuelan border.
  • After yesterday’s softer-than-expected November economic activity data, the local calendar is light for the rest of this week, as attention turns to next week’s BanRep monetary policy meeting. With activity remaining weak, analysts expect another 25bp rate cut on Jan 31, bringing the policy rate to 9.25%.
  • However, recent CPI data and larger-than-expected 9.5% minimum wage hike suggest that risks are skewed today a pause, rather than a reacceleration to 50bp. Finance Minister Guevara also said recently that the central bank could pause its rate-cutting cycle in January, suggesting that the debate this month could be between another 25bp cut and no change.
182 words

To read the full story

Close

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.
  • President Petro is expected to appoint key ally Laura Sarabia, as the country’s next foreign affairs minister, according to reports on Bloomberg. Sarabia will replace Luis Gilberto Murillo who announced his resignation earlier this week. Before joining Petro’s campaign, Sarabia worked for former Colombia ambassador to Venezuela Armando Benedetti. Meanwhile, Interior Minister Cristo said that the government will declare a state of internal unrest but ruled out declaring an economic emergency, amid violence in the Catatumbo region near the Venezuelan border.
  • After yesterday’s softer-than-expected November economic activity data, the local calendar is light for the rest of this week, as attention turns to next week’s BanRep monetary policy meeting. With activity remaining weak, analysts expect another 25bp rate cut on Jan 31, bringing the policy rate to 9.25%.
  • However, recent CPI data and larger-than-expected 9.5% minimum wage hike suggest that risks are skewed today a pause, rather than a reacceleration to 50bp. Finance Minister Guevara also said recently that the central bank could pause its rate-cutting cycle in January, suggesting that the debate this month could be between another 25bp cut and no change.