Servicios
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Six board members voted in favor of this decision and one voted for a 100 basis point increase.
The decision was based on the following considerations:
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In the last year (to April 2019), government deposits at the Central Bank of Colombia have increased by COP $7.6 trillion. This movement generates a monetary contraction. It is the Central Bank's role to provide the liquidity required by the economy in the terms and conditions it deems appropriate…
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In their meeting today, the Board of Directors of the Banco de la Republica decided to hold the benchmark interest rate at 3.25%. In making this decision, the Board took the following relevant factors into account:- The figures for the third quarter show that the growth of a large number of…
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In this paper we find empirical evidence of bank lending channel for Colombia, using a balanced panel data of about four thousand non-financial firms. We find that increases in the interest rate, proxiing for the monetary policy instrument, lead to a reduction in the proportion of bank loans, out…
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This paper tests the importance of the financial structure of banks in the bank lending channel of monetary policy transmission in Colombia, using an unbalanced panel of 51 banks for the period of 1996:4-2014:8. We find that an increase in the interbank rate (proxy of the intervention rate) has a…
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We study the existence of a monetary policy transmission mechanism through banks in Colombia, using monthly banks’ balance sheet data for the period 1996:4 – 2012:12. We obtain results which are consistent with the basic postulates of the bank lending channel (and the risk-taking channel)…
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The Board of Directors of the Central Bank of Colombia, in today’s meeting, approved the Bank's 2017 financial statements. Both the Auditor General to the Bank and the external audit firm Deloitte issued their opinion on said statements without any observations. Additionally, the Office of the…
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In this paper, we study the empirical relationship between credit funding sources and the financial vulnerability of the Colombian banking system. We propose a statistical model to measure and predict banking-fragility episodes associated with credit funding sources classified into retail deposits…
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Cumulative annual production of banknotes and coins by denominationThis report contains the statistics and historical production records and its annual shares by denomination.
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This paper examines trends in banknote printing during the period 2000-2005 for a crosssection of 56 central banks. It was identified that central banks have implemented new strategies to increase efficiency in the production of banknotes, primarily due to the increase in the demand for currency in…
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The central bank issues the country’s currency in the form of banknotes and coins. This is an exclusive function that may not be delegated. Consequently, the production, issue, supply and destruction of all Colombian currency is solely the responsibility of Banco de la República.
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In complex systems, homogeneity (i.e. lack of diversity) has been documented as a source of fragility. Likewise, financial sector’s homogeneity has been documented as a contributing factor for systemic risk. We assess homogeneity in the Colombian case by measuring how similar banks are regarding…
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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A recent document of the journal Ensayos sobre Política Económica (ESPE) from Banco de la República (the Central Bank of Colombia) contains the results of multiple analyses of the effect of the minimum wage on the labor market, income distribution, public finances, prices, and the economic activity…
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General Objective“BanRep desde el lente” is a contest of videos that promotes research on high school students. It aims to instill in young people passion for understanding what happens in the economy and how it is related to their lives. Technology, and social networks are used as learning tools…
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Banrep Interviews is a new space to learn about the perspectives of the relevant people who are part of Banco de la República (the Central Bank of Colombia – Banrep). It is also a means to get to know a little more about them. The first Banrep Interviewee is Bibiana Taboada, a member of the…
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Complete tittle: The Banco de la Republica Leaves the Benchmark Interest Rate Unaltered and Continues he International Reserve Purchase ProgramIn their meeting today, the Board of Directors of the Banco de la Republica decided to leave the benchmark interest rate at 3.25%. In making this decision,…
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Annual inflation increased marginally to 5.3% in February, following a three-month period of stability at 5.2%. The most significant increases were observed in the prices of processed foods and certain regulated items, including gas and transportation. Core inflation (excluding food and regulated…
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Annual inflation dropped from 6.1% to 5.8% between August and September. Leading this decline was the regulated items group, whose annual inflation decreased by one percentage point from 11.1% to 10.1%, mainly driven by the fuels component. Food inflation also registered a significant drop (from 3.…
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Annual inflation fell in August to 6.1%, below forecasts by the Bank’s technical staff and the market. This easing was partly driven by lower-than-expected prices in the food basket, with food inflation falling from 5.3% to 3.4% between July and August, primarily resulting from an ample supply of…
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Headline inflation rose again in September for the third consecutive month, reaching 5.2%, a level last seen at yearend 2024. Core inflation, excluding food and regulated items, remained at 4.8%.Inflation expectations, as measured by surveys and the public debt market, increased in October. Median…
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In its policy discussion, the Board of Directors considered the following factors:
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Annual inflation in June fell to 4.8% from 5.1% in May, chiefly as a result of waning inflation in the food and regulated baskets. Food inflation fell from 4.7% to 4.3%, mainly due to a reduction in perishables inflation. Regulated products inflation fell from 6.3% to 5.5%, driven by lower…
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Between April and May, annual inflation edged down slightly—from 5.2% to 5.1%—while core inflation (excluding food and regulated items) fell mildly from 4.9% to 4.8%. This modest deceleration reflects rigidity in key baskets such as food and services, offset by a small rebound in goods inflation.…
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Annual inflation resumed its downward trend between February and March, declining from 5.3% to 5.1%. By components, results were mixed: inflation for goods and food increased, while that for regulated items and services decreased. Core inflation—excluding food and regulated items—continued to…
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