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At today’s session, the Board of Directors of the Banco de la Republica decided to keep the benchmark interest rate at 3.25%.  In making this decision, the Board took the following aspects into consideration:

At its meeting today the Board of Directors of the Banco de la República (Colombia´s central bank), decided, by a majority vote, to keep its intervention rate unchanged. In this way, the base rate for expansion auctions will continue at 4.5%. The decision reflected the following considerations:

In their session today, the Board of Directors of the Banco de la Republica decided to raise the benchmark interest rate 25 basis points.  Consequently, the base rate for the liquidity-expansion auctions will be 4.0%.  The decision was made with the following in mind:

At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points.  Thus, the base rate for expansion auctions will be 5%.

At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points.  Thus, the base rate for expansion auctions will be 6%.

At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points.  Thus, the base rate for expansion auctions will be 7%.The annual inflation rate for the consumer in February was 6.47%, the fourth consecutive monthly fall.…

At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 100 basic points.  Thus, the base rate for expansion auctions will be 8%.

In its meeting today, the Board of Directors of the Banco de la República decided to reduce its intervention interest rate by 50 basic points. In this way, the base rate for expansion auctions will be 4%. The decision resulted from the following considerations:

At today´s meeting the Board of Directors of the Banco de la República reduced its intervention interest rate by 50 basic points.  Thus, the base rate for expansion auctions will be 9%. This decision was made despite the call for a greater reduction by some Directors.

The Bank for International Settlements (BIS) recently published a report on capital flows, exchange rates, and monetary policy frameworks in Latin American and other economies. The report explores the main drivers of swings in exchange rates and capital flows in recent years, the transmission…

The paper provides a model of the banking firm in the macroeconomy intended to explain what determines the interest rate spread. A key factor explaining the spread in our model is the resource cost of capital. A statistical result confirms the prediction of the model, that is, the bank's spread is…

In order to maintain adequate external liquidity buffers and to anticipate a gradual reduction in the amount of access to the Flexible Credit Line (FCL) provided by the International Monetary Fund (IMF) to Colombia, and considering that uncertainty in the external environment persists, the Board of…

Annual inflation in September stood at 5.8%, down from 6.1% in August. Core inflation, excluding food and regulated items, remained stable at around 5.5%, driven mainly by persistent inflation in the services basket.The technical staff has revised its 2024 total inflation projections downward to 5.…

Annual inflation in August was 6.1%, below market expectations. The decline was driven by lower-than-expected prices in the food basket due to strong supply performance as well as in the regulated items basket owing to smaller adjustments in some public service prices.

Headline inflation rose again in September for the third consecutive month, reaching 5.2%, a level last seen at year-end 2024. Core inflation, excluding food and regulated items, remained at 4.8%.Inflation expectations, as measured by surveys and the public debt market, increased.

The Board of Directors of Banco de la República reiterates its commitment to the 3% inflation target policy guideline and objective.The Board expects inflation to decrease in 2026 and end the year in the upper bound of the 3 ± 1% range, converging to the 3% objective by 2027.Monetary policy actions…

In November, annual inflation fell to 5.2%, below the 5.4% seen in October. Core inflation, excluding food and regulated items, remained close to 5.4%, reflecting persistent inflationary pressures in the services sector.For 2025, inflation is expected to continue converging toward the target,…

Earlier this week, El Nuevo Siglo highlighted Governor Leonardo Villar as “Person of the Year.”A few days later, Portafolio, a newspaper specialized in economics, emphasized the effective work of the Board of Directors in stabilizing inflation.“As the year progressed and inflation started to ease,…

Headline inflation stood at 5.1% in August, while core inflation excluding food and regulated items ended the month at 4.8%, exceeding the technical staff’s forecasts. The new outlook scenario suggests a slower convergence of inflation toward the 3% target.Analysts’ inflation expectations are…

Annual inflation in June fell to 4.8% from 5.1% in May, owing to a drop in food and regulated items inflation, particularly electricity. Core inflation excluding food and regulated items stabilized at 4.8%, reversing the declining trend. Inflation expectations remain above the target, with a stable…

Annual inflation resumed its downward trend, decreasing from 5.3% in February to 5.1% in March. Core inflation, excluding food and regulated items, also declined, from 4.9% to 4.8%. Inflation expectations derived from public debt markets fell, while those obtained from surveys remained stable.…

The Board of Directors of Banco de la República unanimously appointed Leonardo Villar-Gómez as Governor for the term beginning on 04 January 2025. 

Annual inflation in June remained stable at 7.2%, in line with expectations.

Complying with the provisions of Act 31 of 1992, Banco de la República reiterates that its inflation target is 3.0%.Inflation can deviate from the target due to transitory shocks affecting the economies. In some cases, these shocks reverse quickly.