Economic activity has recovered faster than projected, and output is now expected to return to pre-pandemic levels earlier than anticipated. Economic growth projections for 2021 and 2022 have been revised upward, though significant downward bias remains.…
OLD Prices, inflation and monetary policy
Below are the contents available on the site related to the query.
- Publicación |1.1 Macroeconomic summary
- Publicación |Abstract Modern macroeconomics focuses on the identification of the primitive exogenous forces generating business cycles. This is at odds with macroeconomic forecasts collected through surveys, which are about endogenous variables. To address this divorce, our paper uses a…
- Noticias |Act 31/1992 stipulates that the Board of Directors of Banco de la República must define and announce the inflation target. In accordance with this legal mandate, the BDBR is prepared to announce that it has set a target of 3.0% within a range of 2.0% to 4.0%. Inflation has…
- Noticias |
On October 29, Banco de la República's board of directors (BDBR) decided unanimously to continue to normalize monetary policy. The board voted 5-2 to increase the policy interest rate by 50 basis points to 2.5%, with two dissenting members voting for a 25-point increase.
The decision took…
- Publicación |
Webcast by our Deputy Technical Governor, Hernando Vargas.
- Noticias |
The board voted 5-2 to raise the benchmark interest rate by 50 basis points to 2.5%; the two dissenting board members voted for a 25-basis point increase.
This decision was based on the following considerations:
- Publicación |Abstract
Since July 2021, Banco de la República strengthened its forecasting process and communication instruments, by involving predictive densities in the projections of its models, PATACON and 4GM. This paper presents the main theoretical and empirical elements of the predictive density…
- Publicación |1.1 Macroeconomic summary
The Colombian economy sustained numerous shocks in the second quarter, primarily related to costs and supply. The majority of these shocks were unanticipated or proved more persistent than expected, interrupting the recovery in economic activity observed…
- Noticias |
On September 30, Banco de la República's board of directors (BDBR) decided unanimously to begin the process of normalizing monetary policy. The board voted 4-3 to increase the policy interest rate by 25 basis points to 2.0%, with three dissenting members voting for a 50-point increase.
The…
- Noticias |
The board voted 4-3 to raise the benchmark interest rate by 25 basis points to 2.0%; the three dissenting board members voted for a 50-basis point increase.
This decision was based on the following considerations:
- Publicación |Abstract This document offers an exercise that quantifies on the Colombia CPI the maximum possible impact in accounting terms of some price reliefs decreed by the national government. This impact would not necessarily coincide with the official CPI figures, due to the presence of multiple…
- Publicación |Approach
This Ensayos Sobre Política Económica (ESPE in Spanish) paper is framed within the area of macroeconomic literature that studies the expectation formation process. Under an inflation targeting scheme, expected inflation plays a central role in the analysis of monetary…
- Noticias |
On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion). This allocation strengthens the international liquidity of the Fund’s 190…
- Noticias |Macroeconomic summary
The Colombian economy sustained numerous shocks in the second quarter, primarily related to costs and supply. The majority of these shocks were unanticipated or proved more persistent than expected, interrupting the recovery in economic activity observed at the…
- Noticias |
After a thorough evaluation of economic activity, inflation and international financial conditions, Banco de la República's board of directors (BDBR) on July 30 voted by majority to hold the benchmark interest rate at 1.75%.
The monetary policy discussion centered on the following…
- Noticias |
Banco de la República's board of directors (BDBR) in its meeting on July 30 voted by majority to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:
- Publicación |1.1 Macroeconomic summary
Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a…
- Noticias |
After a thorough evaluation of economic activity, inflation and international financial conditions, Banco de la República's board of directors (BDBR) voted unanimously on June 28 to hold the benchmark interest rate at 1.75%.
The monetary policy discussion centered on the following…
- Noticias |
Banco de la República's board of directors (BDBR) in its meeting on June 28 voted unanimously to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:
- Noticias |
Colegio El Divino Niño in the city of Santa Marta was chosen, out of three finalists, as the winner of the XI “From School Banking to Central Banking” Contest for its essay entitled: How does Banco de la República’s monetary policy influence my decisions? Second place went to Colegio Villa…
