Servicios
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The 1991 Constitution drawn up by the Constituent National Assembly introduced various reforms to the previously existing central banking system in Colombia.
The principal reforms were aimed at the replacement of the Monetary Board by the current Board of Directors to act as the…
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In their meeting today, the Board of Directors of the Banco de la República agreed that the inflation target for 2010 would be that of the long term target. Consequently, the inflation target will be the 2% to 4% range with 3% as the precise target for legal purposes. The Board thinks that for the…
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At today’s session, the Board of Directors of the Banco de la Republica decided to keep the benchmark interest rate at 3.25%. In making this decision, the Board took the following aspects into consideration:
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At its meeting today the Board of Directors of the Banco de la República (Colombia´s central bank), decided, by a majority vote, to keep its intervention rate unchanged. In this way, the base rate for expansion auctions will continue at 4.5%. The decision reflected the following considerations:
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In their session today, the Board of Directors of the Banco de la Republica decided to raise the benchmark interest rate 25 basis points. Consequently, the base rate for the liquidity-expansion auctions will be 4.0%. The decision was made with the following in mind:
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At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points. Thus, the base rate for expansion auctions will be 6%.
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At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points. Thus, the base rate for expansion auctions will be 5%.
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At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points. Thus, the base rate for expansion auctions will be 7%.The annual inflation rate for the consumer in February was 6.47%, the fourth consecutive monthly fall.…
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At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points. Thus, the base rate for expansion auctions will be 8%.
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In its meeting today, the Board of Directors of the Banco de la República decided to reduce its intervention interest rate by 50 basic points. In this way, the base rate for expansion auctions will be 4%. The decision resulted from the following considerations:
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At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 50 basic points. Thus, the base rate for expansion auctions will be 9%. This decision was made despite the call for a greater reduction by some Directors.
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The Bank for International Settlements (BIS) recently published a report on capital flows, exchange rates, and monetary policy frameworks in Latin American and other economies. The report explores the main drivers of swings in exchange rates and capital flows in recent years, the transmission…
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The paper provides a model of the banking firm in the macroeconomy intended to explain what determines the interest rate spread. A key factor explaining the spread in our model is the resource cost of capital. A statistical result confirms the prediction of the model, that is, the bank's spread is…
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In 2021, the price of beef grew about 31% and, as of February 2022, has seen an additional growth of more than 4.0%. As can be seen from Graph 1, this increase coincided with similar increases in chicken and pork prices up to October 2021 in contrast to the relative stability seen since 2017.…
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In order to maintain adequate external liquidity buffers and to anticipate a gradual reduction in the amount of access to the Flexible Credit Line (FCL) provided by the International Monetary Fund (IMF) to Colombia, and considering that uncertainty in the external environment persists, the Board of…
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Annual inflation in September stood at 5.8%, down from 6.1% in August. Core inflation, excluding food and regulated items, remained stable at around 5.5%, driven mainly by persistent inflation in the services basket.The technical staff has revised its 2024 total inflation projections downward to 5.…
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Annual inflation in August was 6.1%, below market expectations. The decline was driven by lower-than-expected prices in the food basket due to strong supply performance as well as in the regulated items basket owing to smaller adjustments in some public service prices.
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In November, annual inflation fell to 5.2%, below the 5.4% seen in October. Core inflation, excluding food and regulated items, remained close to 5.4%, reflecting persistent inflationary pressures in the services sector.For 2025, inflation is expected to continue converging toward the target,…
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Earlier this week, El Nuevo Siglo highlighted Governor Leonardo Villar as “Person of the Year.”A few days later, Portafolio, a newspaper specialized in economics, emphasized the effective work of the Board of Directors in stabilizing inflation.“As the year progressed and inflation started to ease,…
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The Board of Directors of Banco de la República unanimously appointed Leonardo Villar-Gómez as Governor for the term beginning on 04 January 2025.
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Annual inflation in June remained stable at 7.2%, in line with expectations.
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Complying with the provisions of Act 31 of 1992, Banco de la República reiterates that its inflation target is 3.0%.Inflation can deviate from the target due to transitory shocks affecting the economies. In some cases, these shocks reverse quickly.
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