Rojas-Moreno, Juan Sebastián

The first quarter of 2022 was characterized by continued global inflationary pressures, which were accentuated by the increase in commodity prices following Russia's invasion of Ukraine. In this context, most central banks continued to withdraw monetary stimulus adopted during the pandemic,…

In 2021, the global economic experienced a faster-than-expected recovery compared to the beginning of the year. This recovery led to increases in commodity prices and, in some cases, disruptions to global supply chains due to growing demand, resulting in increased inflationary pressures globally…

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

Throughout the first quarter of 2021 (1Q21), financial markets revolved around increased optimism regarding expectations of a faster-than-anticipated global economic recovery, led by the US and China. This optimism stemmed from increased fiscal support, continued monetary stimulus, advancements…

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

Since the introduction of exchange rate flexibility and the inflation targeting regime in 1999, Banco de la República (BR), Colombia's monetary and exchange rate authority, has intervened assiduously in the foreign exchange market, except in the last five years.

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

Banco de la República (the Central Bank of Colombia) produces information for decision-making, accountability, and public dissemination. Particularly, the Financial Markets Report is framed within the principle of public dissemination and contributes to the Bank’s service of providing quality…

The Colombian peso depreciated 39.4% against the dollar between July 2014 and March 2015. During that period, the exchange rate rose from a monthly average value of COP 1,858 per dollar to COP 2,591.

One of the consequences of the 2008 financial crisis was a generalized contraction in international trade. In the case of Colombia, export volume indexes and its annual growth rates declined between 2008 and 2009,.

The price of Brent crude oil remained relatively stable between early 2011 and the first half of 2014, averaging USD 110 per barrel (bl).

International reserves are very important for emerging economies, as they allow to buffer possible liquidity vulnerabilities within a countries' balance of payments. Consequently, the issue of how many reserves should each country hold is a relevant issue for economic policy. The literature has…