Blog BanRep

The performance of a key variable as the unemployment rate (UR) over time reflects long-term trends and cyclical factors as well as specific episodes. The special section of the most recent Labor Market Report published by Banco de la República (the Central Bank of Colombia) analyzes this…

The performance of a key variable as the unemployment rate (UR) over time reflects long-term trends and cyclical factors as well as specific episodes.

The Balance of payments of Colombia for 2024 and 2025 shows that between these two years, the current account deficit as a share of GDP (Gross Domestic Product) rose from 1.7% to 2.4%, equivalent to an increase of USD 3,871 million (m) in absolute terms.

The Balance of payments of Colombia for 2024 and 2025 shows that between these two years, the current account deficit as a share of GDP (Gross Domestic Product) rose from 1.7% to 2.4%, equivalent to an increase of USD 3,871 million (m) in absolute terms. The main factor behind this result was…

After a prolonged period of price stability, global inflation rose in 2021 and 2022 to unexpectedly high levels, reaching an average of 8.7% in 2022. In advanced economies, average annual consumer inflation increased from 0.7% in 2020 to 7.3% in 2022, while in emerging and developing economies…

After a prolonged period of price stability, global inflation rose in 2021 and 2022 to unexpectedly high levels, reaching an average of 8.7% in 2022. In advanced economies, average annual consumer inflation increased from 0.7% in 2020 to 7.3% in 2022, while in emerging and developing economies…

In recent discussions about Colombia’s macroeconomic environment, the weakening relationship between Banco de la República’s (Banrep) monetary policy rate (MPR, or the benchmark policy rate) and market interest rates has received comparatively little attention. Indeed, in recent months, yields…

In recent discussions about Colombia’s macroeconomic environment, the weakening relationship between Banco de la República’s (the Central Bank of Colombia) monetary policy rate (MPR, or the benchmark policy rate) and market interest rates has received comparatively little attention. Indeed, in…

A common feature of modern central banks is their independence from the government. This autonomy is justified because the goals of the government and the central bank can differ. Typically, governments prioritize short-term growth and therefore favor low interest rates to boost demand and ease…

A common feature of modern central banks is their independence from the government. This autonomy is justified because the goals of the government and the central bank can differ. Typically, governments prioritize short-term growth and therefore favor low interest rates to boost demand and ease…

According to the prevailing view in Latin America of the mid-20th century—which saw active state intervention as essential for promoting development—central banks were assigned a significant role as development banks. On this basis, they were expected to direct part of domestic savings under…

According to the prevailing view in Latin America of the mid-20th century—which saw active state intervention as essential for promoting development—central banks were assigned a significant role as development banks. On this basis, they were expected to direct part of domestic savings under…

Over the past decade, instant payment systems have established themselves as essential infrastructure for modernizing the financial sector in emerging economies. Colombia has not been immune to this trend: the way Colombians make payments and transfers has shifted significantly.

Over the past decade, instant payment systems have established themselves as essential infrastructure for modernizing the financial sector in emerging economies. Colombia has not been immune to this trend: the way Colombians make payments and transfers has shifted significantly.

Each year, Banco de la República (the Central bank of Colombia) generates profits that, by law, must be transferred to the Government once the equity reserves in this same law have been deducted. In March of this year, Banco de la República will transfer to the National Government approximately…

Each year, Banco de la República generates profits that, by law, must be transferred to the Government once the equity reserves in this same law have been deducted. In March of this year, Banco de la República will transfer to the National Government approximately 13.9 trillion pesos of profits…

Over the past decades, Colombian women have experienced profound transformations in their lives in terms of access to higher education, participation in the labor market, and reproductive decisions. However, these advances have not been fully translated into equivalent reorganization within…

Over the past decades, Colombian women have experienced profound transformations in their lives in terms of access to higher education, participation in the labor market, and reproductive decisions. However, these advances have not been fully translated into equivalent reorganization within…

Recent installments of this Blog introduced crucial elements of monetary policy, such as the inflation target and the…

Recent installments of this Blog introduced crucial elements of monetary policy, such as the inflation target and the monetary policy interest rate. These elements are the building blocks of what is known as the target inflation framework - the general structure under which monetary policy…