OLD Prices, inflation and monetary policy

At its meeting today, the Board of Directors of Banco de la República (BDBR) decided to roll over Non-Delivery Forwards maturing in August through auctions to be held on maturity days. 

The Board of Directors of Banco de la República (BDBR) unanimously decided to lower the Benchmark Interest Rate by one fourth of a Percentage Point to 2.25%. This decision took the following elements into consideration:

The Board of Directors considered that the recent information on economic activity and the revisions to the forecasts made by several agents suggest that the contraction of economic activity for 2020 will be greater than anticipated at the beginning of the…

With the purpose of reinforcing the adequate supply of liquidity to the economy and support the credit supply required by corporations and households, at its meeting today, the Board of Directors of the Central Bank of Colombia (BDBR) decided to maintain the REPO collateralized with bank credit…

The Board of Directors of Banco de la República (BDBR), by majority, reduced the Benchmark Interest Rate by half a Percentage Point to 2.50%. In this way, it continues with the countercyclical monetary policy stance.

This decision took the following elements into consideration: 

The ordinary meeting of the Board of Directors of Banco de la República took place on 29 May 2020 in Bogotá D.C. In attendance were the Minister of Finance and Public Credit, Alberto Carrasquilla Barrera; the Governor of the Central Bank, Juan José Echavarría Soto; and Board Members Arturo José…

The Board of Directors of the Central Bank of Colombia (BDBR), by majority, reduced the benchmark interest rate by half a percentage point to 2.75%. In this way, it continues with the countercyclical monetary policy stance.

This decision took the following elements into consideration:

Banco de la República will roll over foreign-exchange hedging (NDF) with maturities in June through auctions. Also, it will continue to auction the non-allotted amount for authorized operations (NDF and Swaps).

Banco de la República (the Central Bank of Colombia, BR) hereby informs that on 14 May 2020 it exchanged public debt instruments with the national government for COP $1,766 billion (nominal value) at market prices.

In this operation, BR delivered TES with maturities up to 2021, and…

At its meeting in November 2017, the Board of Directors of Banco de la República (BDBR) adopted a new scheme for monetary policy decisions, according to which, ordinarily, no monetary policy decisions would be made in the months of February, May, August, and November each year.

With the purpose of reinforcing the adequate supply of liquidity to the economy and supporting the credit supply required by firms and households, the Board of Directors, at its meeting today, authorized the Central Bank to carry out repo operations collateralized with bank credit claims for up…

Presentación virtual del Informe de Política Monetaria a cargo del gerente general, Juan José Echavarría, y de Hernando Vargas, gerente técnico del Banco de la República.

The Coronavirus pandemic has generated a collapse in global economic activity. Additionally, Colombia has been severely affected by the collapse in the international price of oil.

The members of the Board highlighted the importance of the measures taken in recent weeks to ensure a wide and…

Juan José Echavarría, Governor, and Hernando Vargas, Deputy Technical Governor, answer questions from analysts and journalists related to the decision reached today by the Board of Directors.

The Economic Education Section hereby informs that the deadlines and conditions of the essay contest “De la banca escolar a la banca central” have been modified to ensure the participation of every school in the country. Please read the following information carefully:

New Deadlines

The United States Federal Reserve has guaranteed Banco de la República access to repos through FIMA. This facility has been open since 6 April 2020. Eligible institutions are central banks with custody accounts for US Treasury securities at the Federal Reserve. Banco de la República would make…

Banco de la República (the Central Bank of Colombia) hereby informs that as of today (16 April 2020) solidarity bonds will be included as eligible instruments in its liquidity operations (repo, definitive purchases, and the lender of last resort facility).

The list of agents, eligible…

In its extraordinary session today, the Board of Directors of Banco de la República (the Central Bank of Colombia) decided to inject permanent liquidity to the economy by reducing reserve requirements as follows:

On 27 March 2020, Banco de la República announced that the maturities of NDFs that expired before 25 April 2020 would be renewed.

This announcement was mistaken in the sense that the date announced should have been that of the day following the April meeting of the Board of Directors.…

The ordinary meeting of the Board of Directors of Banco de la República took place on 27 March 2020 in Bogotá D.C. In attendance were the Minister of Finance and Public Credit, Alberto Carrasquilla Barrera; the Governor of the Central Bank, Juan José Echavarría Soto; and Board Members Gerardo…