Macroeconomic Forecast Colombia

We expect the Central Bank of Colombia (Banrep) to continue bringing its benchmark hiking cycle to an end, forecasting the overall rate to reach 4.75% for end-2011. Inflation has edged higher, but at 3.23% is still well within the central bank's target range of 2-4%. That said, there has been considerable political pressure from President Juan Manuel Santos to pause the hiking cycle over fears of exacerbating recent currency appreciation and dampening economic growth.

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