Summary 2/2 - Peru On Hold, Colombia Governor Announced

PERU - Peru central bank Monetary Policy Committee left the policy rate at 0.25%. The decision was expected by all analysts surveyed by Bloomberg.

• The forward guidance from previous meetings was reiterated. The MPC stated that it "considered appropriate to maintain the highly expansive monetary policy stance for an extended period as long as the negative effects from the pandemic over inflation and its determinants persist."
• The large beat for November inflation had little impact, with the central bank maintaining its view that inflation will likely end 2021 below the 2% target on the back of weak domestic demand.

ECUADOR - The National Assembly's Justice Committee expected to pass draft of anti-graft bill to the congressional floor, setting up vote to allow disbursal of $2b from the IMF.

COLOMBIA - The Central Bank has elected the nation's top representative at the IMF in Washington as the new Governor.

• Villar served on the central bank's board as a co-director from 1997 to 2009.
• He also helped co-ordinate Colombia's response to the financial crisis and housing market crash in the late 1990s.