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Financial News: COLOMBIA: Analysts Raise 2018 Inflation Estimate To 3.33%

COLOMBIA: Analysts Raise 2018 Inflation Estimate To 3.33%

05/16/2018 - 16:05:00 (RTTNews)

(RTTNews) - Analysts surveyed by the central bank of Colombia increased their 2018 inflation forecast to 3.33% in May, from 3.27% in April. They also expect this month's inflation to reach 0.26%, with estimates ranging from 0.10% to 0.50%. The 2019 year-end inflation rate forecast fell from 3.29% to 3.27%.

Analysts also said that they expect a foreign exchange rate of 2,894.47 pesos per dollar by the end of this year. In the previous survey, their estimate was of a stronger local currency, with an exchange rate of 2,882.57 pesos per dollar.

The central bank also showed that investors cut their estimates for Colombia's benchmark interest rates in May, to 4.25%, from 4.27%, but increased their forecast for the year-end interest rate to 4,16%, from 4.15%.

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