Banco de la República’s board of directors (BDBR) in 2021 will resume its regular practice of considering changes to the benchmark interest rate in only eight of its 12 ordinary annual meetings. The BDBR will continue to take up remaining issues within its purview in each of its meetings.
Meetings in which changes to the benchmark interest rate are to be considered will be held in January, March, April, June, July, September, October, and December.
The return to its regular meeting framework will not preclude the BDBR from making policy rate decisions in any of its ordinary monthly meetings. The BDBR is also able to convene extraordinary policy rate meetings when deemed necessary in response to exceptional circumstances.