Archive

April 30, 2025
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Colombia: 25bp Rate Cut To 9.25% (Consensus 9.5%) in Apr-25

  • Banco de la República unanimously cut its benchmark rate by 25bps to 9.25%, surprising consensus expectations for no change and breaking a recent streak of unexpected holds.
  • Inflation resumed its downward path, with core and headline figures easing and market-based expectations declining, supporting a measured policy loosening stance.
  • While domestic demand remains resilient and growth forecasts have been upgraded, external financing conditions and fiscal uncertainty continue to pose constraints on the pace of further easing.
April 23, 2025
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Indonesia: Policy Rate Held At 5.75% (Consensus 5.75%) in Apr-25

  • Bank Indonesia maintained the BI-Rate at 5.75%, in line with expectations, with a cautious stance to safeguard price stability and currency fundamentals amid heightened global uncertainty stemming from US-China trade tensions.
  • A resilient external position—anchored by a robust trade surplus, substantial reserves, and controlled inflation—has enabled the central bank to manage volatility while preserving policy flexibility.
  • With inflation subdued and global headwinds intensifying, Bank Indonesia retains an easing bias, with future rate cuts contingent on inflation dynamics, Rupiah stability, and international capital flow conditions.

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