Case for interest rate cuts is building in Colombia

The deterioration in the outlook for Colombia has forced us to review our interest rates forecast. With the economy slowing more abruptly than we had expected, the rate cuts that we had pencilled in next year could now be brought forward to the second half of this year. As such, we think that rates could be reduced by 50bps to 4.75% by year-end before remaining on hold for a sustained period.

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