Villar - Continued Need For Expansive Monetary Policy

In an interview with Bloomberg, Governor Villar noted that both voting groups in the board in the previous meeting (5 to hold and 2 to cut 25bps) agree than there is a need for expansive monetary policy and that there is a need to keep rates at historically low levels for the time being.

• These comments were very much in line with his post decision rhetoric, noting that the differences of opinion between voting groups were small.
• The current growth forecasts have risks in both directions:
• Downside risks tied to the Pandemic and upside risks tied to a bolstered commodity price and export outlook.
• Today at, 1500GMT/1000ET Colombia Retail Sales, Manufacturing Production