Freeze on Colombia Rates Expected

Freeze on Colombia Rates Expected

Colombia

Market consensus points to Colombia’s central bank keeping its monetary policy rate intact at 3.50% today, although many see a hike coming in 2010. Bank of America Merrill Lynch sees a pause until Q2 2010. “Cutting rates to curb COP strength, setting new inflation targets and conducting monetary expansion through the purchase of up to COP3.00tn ($1.56bn) of USD and TES bonds leads us to conclude that an earlier hike is possible only if activity and inflation turn upward,” it says. Morgan Stanley

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