Corporate and Institutional

On October 23, the awards ceremony for the 15th National Academic Economics Competition (CANE in Spanish) took place. This academic initiative, organized by the Student Council of the School of Economics at Universidad del Rosario, aims to promote academic exchange and enhance economic knowledge…

Interest rates on public debt tend to respond to different determinants, depending on maturity. Since 2024, short-term interest rates on Colombian peso-denominated public debt (TES) have declined in line with the cuts in Banco de la República’s monetary policy rate (MPR). On the contrary, long-…

Spending inflexibility is a structural feature of Colombia’s Government Budget (PGN). This condition reflects the existence of earmarked revenues, the establishment of spending commitments through the Constitution and the law, and the state’s permanent obligations related to pensions and debt…

As noted in recent reports from the Board of Directors of Banco de la República to Congress, in recent quarters much of the strength of economic activity, particularly domestic demand, has relied on household consumption, whose outstanding performance has been characterized by growth rates…

To begin, I would like to congratulate the Constitutional Court and its President, Mr. Jorge Enrique Ibáñez Najar, on this Panel Discussion on Constitutional Jurisdiction, which will unfold over the next two days, thus continuing an important and well-established tradition. This panel discussion…

Central Banking is an international media outlet based in London that specializes in the coverage of central banking, monetary policy, financial stability, and related topics.

In a recent article, it highlighted the intervention of Governor Leonardo Villar, who defended the importance of…

In the first months of 2025, annual inflation halted the downward trend observed in the previous year, remaining between 5.1% and 5.3%. In June, inflation declined to 4.8% showing a slow convergence towards the 3.0% target. In this context, the Colombian economy grew by 2.7% in the first quarter…

On Thursday, July 10, Banco de la República (the Central Bank of Colombia) submitted a letter to the Constitutional Court with two primary objectives:

Banco de la República (the Central Bank of Colombia) promotes the generation and dissemination of economic and financial knowledge as a core component of its institutional mission. This is done through rigorous research, statistical production, and comprehensive economic education programs, all…

At the 19 December 2023 meeting, the Board of Directors of Banco de la República (BDBR) announced the decision to gradually accumulate up to USD 1,500 million (m) in foreign reserves (FRs). The purpose of this measure was to strengthen…

The year 2025 will be a key for the payments industry with the launch of Bre-B, the new interoperable instant payments system developed by Banco de la República in collaboration with the fnancial industry since 2022. This system will allow real-time transfers with crediting of funds across all…

Reserve requirements are an economic policy instrument that has historically played an important role in the fulfillment of the central bank’s mission worldwide. This requirement, set by the monetary authority of each country, mandates that banks and other credit institutions (CIs) to maintain a…

As part of the inflation-targeting framework governing monetary policy in Colombia, Banco de la República uses the monetary policy interest rate (MPR) as an instrument. By changing the MPR, Banrep induces variations in market interest rates at different terms and in asset prices, thereby…

Monetary policy is a fascinating subject that is always at the center of economic discussions, whether in classrooms, media headlines, or everyday conversations. However, understanding it in depth requires more than a…

In 2019 and 2020, Banco de la República (the Central Bank of Colombia) showed historically high profits, which amounted to 7.1 trillion and 7.5 trillion Colombian pesos, respectively. This was mainly due to the extraordinary yields of foreign reserves (FRs), which totaled 7.6 trillion and 6.6…

This document contains: i) the 2024 Management of Banco de la República’s (the Central Bank of Colombia, Banrep) main projects and the distribution of the investment budget with its respective management indicator; and ii) the Action Plan for the year 2025.

For more information, see other…

Banco de la República informs that fake news is circulating through various channels, such as social networks, websites, WhatsApp messages, text messages, and others. These messages impersonate well-known media outlets, such as Caracol Noticias and El Tiempo newspaper, among others, and feature…

This year, coinciding with the celebration of its 100th anniversary, Banco de la República (the Central Bank of Colombia) received the ‘Carbon Neutral’ certification from Bureau Veritas. This recognition indicates that the Bank has taken the necessary measures to mitigate and offset its CO2…