Despite the fact that inflation in March did not allay the fears that would make it possible to rule out further rate hikes for the Bank of the Republicthe Board of Directors of the Issuer, according to the consensus of the analysts, would leave the monetary policy intact pending new data.
It should be remembered that at the March meeting, the Board unanimously decided to increase its intervention interest rate by 25 basis points (bps), up to 13%, the highest level since 1999.
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However, this increase was the most moderate since the current increase cycle began, in line with the slower rate of increase in headline inflation and the drop in expectations for one and two years.
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According to an analysis of Corficolombianit is expected that the Banco de la República will maintain the intervention rate at 13%ending a cycle of a year and a half in which interest rates rose 1,125 bps.
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This decision, according to the entity, would reflect the expected decrease in inflation in the short and medium term, the deterioration of growth figures and a better performance of local financial assets.
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For Corfiocolombiana, inflation peaked in March and as of April it will gradually decrease due to the moderation of food pressures and the high statistical base in 2022. Likewise, the figures related to economic activity registered a moderation in the first quarter of the year.
BRIEFCASE
