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21 Aug 2015
Colombian central bank expected to remain on hold – BBH
FXStreet (Edinburgh) - The research team at BBH sees the Colombian central bank keeping rates unchanged at 4.5% at today’s meeting.
Key Quotes
“The Colombian central bank announces its decision on today. Although last meeting’s decision to hold rates at 4.50% was not unanimous, the bank is widely expected to keep rates at the same level”.
“Pass-through inflation is now a big concern for policy members after the Colombian peso lost nearly 40% of its value over the last 12 months. Still, it doesn’t seem as if we are at the breaking point yet for a majority of board members”.
“Separately, the trade balance for June will be released. Markets are forecasting a relatively unchanged figure of -$900 mln. Note that the trade deficit bottomed in January at $1.8 bln”.
Key Quotes
“The Colombian central bank announces its decision on today. Although last meeting’s decision to hold rates at 4.50% was not unanimous, the bank is widely expected to keep rates at the same level”.
“Pass-through inflation is now a big concern for policy members after the Colombian peso lost nearly 40% of its value over the last 12 months. Still, it doesn’t seem as if we are at the breaking point yet for a majority of board members”.
“Separately, the trade balance for June will be released. Markets are forecasting a relatively unchanged figure of -$900 mln. Note that the trade deficit bottomed in January at $1.8 bln”.