At its meeting on 30 August 2019, the Board of Directors of Banco de la República (the Central Bank of Colombia) adopted a new communication scheme for monetary policy decisions. The purpose of these changes is to facilitate the understanding of the decisions by the markets and the general public.
The main changes are as follows:
The press release and the press conference will continue taking place on the same day that the Board makes a decision on the benchmark interest rate.
The Monetary Policy Report will have a more forward-looking approach and seeks to deliver information in a more timely manner, thus allowing economic agents to make better decisions.
Each presentation of the Monetary Policy Report will be transmitted openly and live via our Livestream channel (www.livestream.com/banrep). However, interactive and/or in-person participation will be restricted to market analysts and journalists who can provide proof of their position. In order to participate in this conference, attendees are encouraged to register via the following link: https://www.banrep.gov.co/es/rueda-prensa-presentacion-informe-politica-monetaria
The first presentation will take place on Wednesday 6 November at 3:00 p.m. in the Press Room at the main building of Banco de la República, 13th floor, and registration will be open until Tuesday, 5 November at 7:00 p.m.
On the other hand, in March, June, September, and December no Monetary Policy Report will be published. The day following the meeting of the Board of Directors, the Minutes, the determinants of capital markets dynamics, and the corresponding statistical annexes will be published on our Website.
No Monetary Policy Report will be published in February, May, August, or November. However, if the BDBR makes any decision on the benchmark interest rate, only the Minutes of the meeting will be published on the working day following the day on which the Board took a decision on the policy rate.