Box 2: Central Bank Asset Purchases in Response to the Covid-19 Crisis - Financial Markets Report, Second Quarter 2023
The main purpose of these documents is to provide quarterly information on financial markets. Opinions and possible errors are the sole responsibility of the author and their contents do not compromise the Board of Directors of Banco de la República (the Central Bank of Colombia, Banrep).
This Box summarizes the main findings on central banks’ experience with asset purchases in response to the Covid-19 pandemic, emphasizing the Colombian case. The Bank for International Settlements (BIS) recently published a report in which the Committee on the Global Financial System (CGFS) examined the experience of central banks in several emerging and developed economies, identifying those who conducted asset purchases in response to a crisis for the first time during the Covid-19 pandemic and those who expanded or reintroduced asset purchase programs. Banrep participated in this report by sharing its experience during the pandemic.
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