Analysts expect the dollar to move between $3,690 and $3,750

Fedesarrollo revealed the results of the July Financial Opinion Survey, a survey that compiles forecasts for the leading indicators of the Colombian economy.

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It should be noted that 100% of analysts expect the Banco de la República board to keep the benchmark interest rate unchanged at 1.75% during this week’s meeting. However, by the end of the year 56.4% of those consulted expect an increase of 25 basis points, leaving the rate at 2%, and 28.2% expect an increase to 2.25%

Given that the annual CPI variance in June was 3.63%, on average analysts expect 2021 inflation to close at 3.81%.

He also notes that analysts expect the exchange rate to move between $3,690 and $3,750 in the next three months. On average, they expect the dollar to close the year near $3,700.

In July, growth forecasts for 2021 were in a range of 5.40% to 7.30%, with an average response of 6.40% (5.5% in the June release). Fedesarrollo noted in his report that the average forecast for 2022 was at 3.77%, ranging between 3.20% and 4.0%.