Macroeconomic Insights: Colombia CPI: The Minimum Wage Shock

Colombia’s 12-month inflation outlook for 2026 has been revised higher. We now expect inflation to hit up to 6.7%YoY by the end of the year (Figure 1). This is a clear break from the lower path implied before the minimum wage decision. The shift follows the 23%...

Macroeconomic Insights: Expect the Unexpected

Mark Carney at Davos, January 20, 2026 “For decades, countries like Canada prospered under what we called the rules-based international order. We joined its institutions, we praised its principles, we benefited from its predictability… this bargain no...
Macroeconomic Insights: Turkey CPI – Inflation Pinned in Gold

Macroeconomic Insights: Turkey CPI – Inflation Pinned in Gold

Gold jewelry remains a common wedding gift in Turkey, reflecting a cultural practice where households preserve wealth through physical gold rather than financial assets. This preference, formed through decades of high inflation and currency instability, has...