The Board of Directors of Banco de la República reiterates 3.0% as its Medium-Term Inflation Target

After its November meeting, the Board of Directors of Banco de la República (the Central Bank of Colombia) reiterates that its medium-term inflation target remains at 3.0%, within a range between 2.0% and 4.0%.

Also, the Board reports that monetary policy actions taken so far are compatible with the convergence of inflation to 3.0%.

The Board notes that it will continue to carefully monitor the international situation, the behavior of inflation and economic activity, and the forecasts for these variables, and reiterates that monetary policy actions aim to drive inflation to its 3.0% target in 2020, in coordination with the general economic policy.

Bogotá,