This Box quantifies the potential effects of a real increase in the minimum wage on a set of macroeconomic variables when the increment exceeds the sum of inflation and labor productivity growth by 17.2 percentage points (pp), as the one established for 2026. The analysis is conducted by…
Main Reports NEW
Below are the contents available on the site related to the query.
- Publicación |
- Publicación |
Banco de la República, the Central Bank of Colombia, continuously reviews and updates the tools used for macroeconomic forecasting and monetary policy analysis. These tools include macroeconomic models, which enable the collective analysis of inflation and economic growth dynamics in the medium…
- Publicación |
In 2025, inflation stopped declining and remained above the 3% target. It is expected to rise to 6.3% in 2026 and then fall to 3.7% by December 2027, within a context of excess demand, solid economic growth, high employment levels, and increased labor costs in 2026.
- Publicación |Main Characteristics of Banco de la República’s Reserves Management PolicyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, known as…
- Publicación |
The presence of Colombian banks in Central America has been significant in recent decades. Exposure to the regions where Colombian banks operate can be classified as direct or indirect. Direct exposure refers to the relationship that Colombian banks keep with their subsidiaries, whose results…
- Publicación |
The presence of Colombian banks in Central America has been significant in recent decades. Exposure to the regions where Colombian banks operate can be classified as direct or indirect. Direct exposure refers to the relationship that Colombian banks keep with their subsidiaries…
- Publicación |
This Special Financial Stability Report updates and expands the analysis of the performance of the loan portfolio and credit risk of credit institutions presented in the…
- Publicación |
Between March and September 2025, global financial markets showed signs of recovery. However, uncertainty persists due to high global debt, trade tensions, and geopolitical conflicts.
- Publicación |Main characteristics of Banco de la República's reserves management policyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, called…
- Publicación |
Macroeconomic imbalances are understood as the deviations of key variables from their long-term equilibrium values. These imbalances can accumulate over time, often during economic boom periods, increasing an economy’s vulnerability to adverse shocks and preface economic contractions and…
- Publicación |
The dynamics of the primary markets in which the financial system participates (e.g., credit, deposits, and fund management, among others) are intricately connected to the performance of the household sector, given its significant role in each of these areas. This report is created considering…
- Publicación |
Prices increased more than expected during the third quarter of the year. However, inflation is still expected to decrease in 2026 and fall within the range of 2 % to 4 %, continuing to approach the 3 % target, but at a somewhat slower pace. It is estimated that inflation will be at 5.1…
- Publicación |
Spending inflexibility is a structural feature of Colombia’s Government Budget (PGN). This condition reflects the existence of earmarked revenues, the establishment of spending commitments through the Constitution and the law, and the state’s permanent obligations related to pensions and debt…
- Publicación |
As noted in recent reports from the Board of Directors of Banco de la República to Congress, in recent quarters much of the strength of economic activity, particularly domestic demand, has relied on household consumption, whose outstanding performance has been characterized by growth rates…
- Publicación |
Interest rates on public debt tend to respond to different determinants, depending on maturity. Since 2024, short-term interest rates on Colombian peso-denominated public debt (TES) have declined in line with the cuts in Banco de la República’s monetary policy rate (MPR). On the contrary, long-…
- Publicación |Deterioration of the Local Fiscal Situation
A weaker fiscal position can increase the economy’s vulnerability to external shocks and limit the scope for policy responses. This vulnerability may translate into higher risks for the financial system.
- Publicación |
This report analyzes several indicators to measure the concentration of credit and deposit markets in Colombia and in some peer jurisdictions (Mexico, Peru, and Chile). Additionally, recognizing that the relationship between concentration, competition, and market power is not direct, two…
- Publicación |
Inflation increased more than the Bank anticipated during the second quarter of the year. However, with a cautious monetary policy and no significant increases in labor costs, prices are projected to rise at a slower pace, closer to the 3% target, in 2026 and 2027.
- Publicación |
One of the central inputs for Banco de la República’s macroeconomic forecasting models is the long-term rate of growth of the economy. In technical terms, this is known as steady-state growth, defned as the growth rate of the economy in the absence of new shocks, also understood as the reference…
- Publicación |Financial Infrastructure in ColombiaPayment Infrastructure in Financial MarketsIn 2024, Banco de la República’s (the Central Bank of Colombia) large-value payment system (Deposit Accounts System, CUD by its Spanish acronym) exhibited greater dynamism. The average daily value of settled transactions…
