Monetary policy

Monetary policy latest publications

January 24, 2022

Global | The old anomaly of inflation

In early 2022, we face a global economic scenario with an eye still on the pandemic, but with a return to macroeconomic management issues that seemed forgotten for decades—high inflation and the tapering of monetary stimulus.

January 3, 2022

Global | Overview of 2021: inflation — the unexpected guest

The global economy beat forecasts in 2021, with a more positive than expected first half to the year — driven by the restart in activity and the rollout of vaccinations. However, the second six months were more moderate, affected by supply chain disruptions and rising inflation.

December 27, 2021

Global | 2021 - a disappointing end after a promising start

The markets have performed well in 2021, even taking into account the recent corrections. A successful vaccination rollout supported the reopening of the economy which, along with the various fiscal stimulus packages, helped drive the recovery in domestic demand and increased investor appetite.

December 21, 2021

Europe | Exit: the huge challenge

The central banks of the major developed economies will be closely monitored as they are heading for the exit strategy, i.e. the unwinding of the massive monetary stimulus rolled out during the COVID-19 crisis. The challenge is huge because of a combination of three elements.

December 18, 2021

Colombia | BanRep raises policy rate by 50 bps in December

Banco de la República increased the policy rate by 50 basis points, bringing it to 3.0%. The vote was split, with 4 members in favor of a 50 basis points increase and 3 in favor of 75 basis points.

December 3, 2021

Mexico | Omicron: economic effects

Last Friday, global financial markets had significant losses after it was announced that Ómicron, the new variant of the coronavirus, can potentially be much more contagious than Delta, the predominant variant.

November 11, 2021

Banxico will likely take the policy rate to 5.25% in December

The Central Bank will most likely hike again in December, but not at a faster pace; the probability that the hiking cycle continues in 1Q22 has increased .

November 9, 2021

Banxico: We expect another 25bp hike and think that the chance of a larger hike is low

A strong core inflation print and a further rise in 12-months ahead core inflation expectations will keep Banxico in a tightening mode