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Since the creation of Banco de la República (the Central Bank of Colombia) in 1923, the institution has been responsible for managing the country’s foreign reserves, which are one of its main external assets.<
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National accounts can be characterized as an integrated set of accounts that aim to provide a reliable and systematic measurement of the performance of macroeconomic variables of a region or country.
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Monetary policy rateThe monetary policy benchmark interest rate or benchmark rate is the minimum interest rate that Banco de la República (the Central Bank of Colombia) charges financial ins
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Labor market indicatorsThe labor market is where labor supply and demand interact. Labor supply refers to individuals who are willing to work, while labor demand comprises the employers that hire such workers.
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Monetary base and monetary aggregatesMonetary aggregates represent the measurement of the quantity of money in the economy.
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Consumer Price Index (CPI)The Consumer Price Index (CPI) is a measure of price changes of a market basket of goods and services representative of household final consumption.
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The purpose of this methodology sheet is to outline the composition of Colombia’s public sector, provide essential definitions for interpreting the displayed data, and identify the various sources of information used to obtain the data.
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In this paper we model the effect of migrant remittances on job creation and human capital formation, given migration prospects. Model calibration of deep parameters was performed with data from the AMCO survey on migration and remittances. The simulations based on the model show that remittances…
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We assess whether international remittances affect Colombian households expenditure composition and demand of education. We exploit the migratory wave that took place on late 90s due to one of the deepest crises in Colombian history, along with institutional barriers to migration, to identify the…
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This paper exploits the long history of the minimum wage in a relatively stable developing economy like Colombia in order to see whether it may alleviate the living conditions of low income families and reduce income inequality. The paper does not only explore how the minimum wage may serve this…
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Five Directors voted in favor of this decision, and two voted for a 25 basis-point reduction. In its policy discussion, the Board of Directors considered the following elements:
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Inflation remains on a downward path, falling for eight consecutive months and reaching 10.15% in November. The decrease in the annual food inflation from 10.36% in October to 8.25% in November substantially contributed to moderating headline inflation. In particular, the significant drop in annual…
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On April 29, Banco de la República's board of directors (BDBR) voted 4-3 in favor of a 100-basis point increase to the benchmark interest rate, bringing it to 6.0%; three board members voted for a 150-basis point increase. The decision took into account the following considerations:
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Four Board Members voted in favor of this decision. One Bord Member voted for an increase of 125 bp, and another voted for an increase of 25 bp.In their policy discussion, the Board of Directors considered the following elements:
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The decision was based on the following considerations:
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This decision took into account the following considerations:
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Banco de la República's Board of Directors (BDBR) unanimously decided to raise the monetary policy interest rate by 100 basis points (bp) to 11%. In the discussion on monetary policy, the following elements were considered:
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This policy decisión was based on the following considerations.
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Five Board Members voted in favor of this decision, and two voted for a 25 bp increase. In their policy discussion, the Board of Directors considered the following elements:
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A regular meeting of Banco de la República’s Board of Directors was held in the city of Bogotá on April 29, 2011. Present: Mr. Juan Carlos Echeverry, Minister of Finance and Public Credit Mr. José Darío Uribe, Governor, Banco de la República Full-time Board Members in Attendance…
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A regular meeting of the Board of Directors of Banco de la República was held in the city of Bogotá on April 30, 2012. In attendance were Mr. Juan Carlos Echeverry, Minister of Finance and Public Credit, Mr. José Darío Uribe, Governor and Managing Director of Banco de la República, and full-time co…
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A regular meeting of the Board of Directors of Banco de la República was held in the city of Bogotá D.C. on August 29, 2014. In attendance were Mr. Mauricio Cárdenas Santamaría, Minister of Finance and Public Credit, Mr. José Darío Uribe Escobar, Governor and Managing Director of Banco de la…
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A regular meeting of the Board of Directors of Banco de la República was held in the city of Bogotá D.C. on February 22, 2013. In attendance were Mr. Mauricio Cárdenas Santamaría, Minister of Finance and Public Credit, Mr. José Darío Uribe, Governor and Managing Director of Banco de la…
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A regular meeting of the Board of Directors of Banco de la República was held in the city of Bogotá on February 25, 2011. Present: Mr. Juan Carlos Echeverry, Minister of Finance and Public Credit Mr. José Darío Uribe, Governor, Banco de la República Full-time Board Members in…
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