Economists Split Over Size of Colombia Interest Rate Cut [BNN Bloomberg (Canada)]
BanColombia S.A. (CIB)
Last bancolombia s.a. earnings: 2/21 04:00 pm
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US:NYSE Investor Relations:
grupobancolombia.com/wps/portal/about-us/corporate-information/investor-relations
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Source: BNN Bloomberg
Until now, the central bank has ignored President Gustavo Petro's calls to speed up monetary easing. Now, a significant minority of analysts think it will finally do what the government wants when the bank's board meets Monday. Twenty of 27 analysts surveyed by Bloomberg forecast that the bank will lower its key rate to 10.25%, from 10.75%, the fifth straight half percentage-point reduction. The other seven, including BBVA Colombia SA, Bancolombia SA and UBS Securities LLC predict a reduction of three quarters of a percentage point, which would be the biggest in 15 years. In recent months, two of the seven board members have voted to lower rates more aggressively, arguing that inflation has been tamed and that the economy needs a boost. But, until now, a majority of policymakers have rejected this case for fear that consumer price rises might not slow to target quickly enough. Annual inflation has halved to 6.12% from its post-pandemic peak last year, but it's still more than t
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