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June 22, 2022

Banxico will act “more forcefully” and deliver, a widely anticipated, larger 75bp hike

There is (now) a wide consensus that Banxico will match Fed’s expected hikes through December, taking the policy rate to 9.50% by year-end

June 10, 2022

Peru | BCRP continued tightening the monetary policy position

The Board of the Central Bank decided to increase the monetary policy rate from 5.00% to 5.50% in June. The Bank continues the normalization of monetary policy in a context of lesser external headwinds and pessimistic expectations.

May 13, 2022

Peru | BCRP hikes MPR and points to significant challenges to activity looking forward

The Board of the Central Bank decided to increase the monetary policy rate from 4.50% to 5.00% in May. The Bank continued the normalization of monetary policy but pointed to lower external headwinds and pessimism in expectations.

April 29, 2022

Colombia | Banrep raised its monetary policy interest rate by 100 bps

At its April meeting, Banco de la República increased the monetary policy rate by 100 bps, bringing it to 6.0%. The vote was split, with 4 members in favor of a 100 bp increase and 3 members in favor of a 150 bp increase.

April 29, 2022

Colombia | Raising rates is unpopular but necessary

Banco de la República increased its intervention rate by 100 bp at its last meeting. On the one hand, analysts expected an increase of 150 bp, while businessmen expected more moderate adjustments. Going forward, further rate increases are expected to counteract the high inflation levels.

April 7, 2022

Peru Economic Outlook. Second quarter 2022

Taking into account a less favorable external scenario, we have revised downwards the growth forecasts for 2022 and 2023, from 2.3% to 2.0% in the first case and from 3.0% to 2.8% in the second.

April 6, 2022

Colombia Economic Outlook. Second quarter 2022

The Colombian economy will continue to show resilience in a context of greater global uncertainty, more contractionary monetary policies and strong upward pressures on inflation. We expect the economy to grow 4.5% in 2022 and 2.5% in 2023, driven by domestic demand and exports.

March 11, 2022

Peru | BCRP expects inflation to remain above target for longer and hikes policy rate

The Board of the Central Bank decided to increase the monetary policy rate from 3.50% to 4.00% in March. The Bank now expects inflation to return to the target range in the first half of next year.