Colombia Expected to Hike Rate Today

Colombia’s central bank is expected to hike its rate by 25bp to 4.50% today, although Goldman Sachs says there is a moderate probability of a pause in the normalization cycle. The monetary policy committee was divided on its decision to hike the rate a month ago. Goldman cites currency appreciation and tolerable inflation dynamics as reasons behind a potential pause. Deutsche Bank says it expects the bank to keep the rate at 4.25%.