Why a devaluation of the BVC is expected in the coming months

Why a devaluation of the BVC is expected in the coming months

In May, 74.2% of the economic analysts consulted for the Financial Opinion Survey (EOF) of Fedesarrollo expect a devaluation of the index MSCI Colcap of the Colombian stock exchange in the next three months.

The common shares of Bancolombia, Grupo Energía Bogotá (GEB) and Grupo Argos They were ranked as the most attractive among those that make up the index. Followed by the action of Ecopetrol and Bancolombia Preferential.

Portfolio managers increased their preferences for cash, commodities, TES UVR, private debt indexed to the IPC, private debt indexed to the DTF and private debt indexed to the IBR, according to the EOF.

(See: Colombia and the United Kingdom will formalize their FTA: these are the agreements).

Considering that next Friday the board of directors of the Banco de la República will not make a decision on monetary policy, For this edition of the EOF, the percentage of analysts who expect the rate to remain at 6% at the end of the month is 87.5%. 6.25% forecast an increase to 7%, while the remaining 6.25% forecast it to reach 7.5%.

(See: Mining companies would transfer more than 8 billion pesos to the new government).

The growth forecast for 2022 was in a range between 4.9% and 5.3%, with 5.0% as the median response. The median forecast for 2023 was 3.5%, with a range between 3.0% and 3.8%.

Inflation expectations for the end of the month and the end of the year stood at 9.1% and 8%, respectively.

(See: Inflation could affect GDP via consumption and rates).


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