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On March 31, Banco de la República's board of directors (BDBR) voted 5-2 in favor of a 100-basis point increase to the benchmark interest rate, bringing it to 5.0%; two board members voted for a 150-basis point increase.
The decision took into account the following considerations:
On March 25, the Executive Board of the International Monetary Fund (IMF) met to finalize the Article IV annual consultation with Colombia and published the staff report discussed at that meeting, as well as a press release illustrating the discussion held at the IMF board and the statement made…
In 2020, Banco de la República's board of directors (BDBR) took a series of steps to ensure liquidity in the economy and in financial markets in response to the risks and adverse effects caused by the COVID-19 pandemic. In an environment of extraordinary tension, these steps included the…
The board voted 5-2 to raise the benchmark interest rate to 5.0%; two board members voted for a 150-basis point increase.
The decision was based on the following considerations:
Washington, DC: Among the fastest recoveries in the region, Colombia’s economy rebounded strongly, driven by private consumption, in 2021. With progress on vaccinations and continued reopening of the economy, strong growth momentum is expected to continue in the near term,…
On January 28, Banco de la República's board of directors (BDBR) voted 5-2 to approve a 100-basis point increase to the benchmark interest rate, bringing it to 4.0%; two dissenting members voted for a 75-point increase.
The decision took into account the following considerations:
The board voted 5-2 to raise the benchmark interest rate to 4.0%; two board members voted for a 75-basis point increase.
The decision was based on the following considerations:
The Board of Directors of Banco de la República raised the policy rate by 50 basis points (bp) thus putting it at 3.0% in a 4-3 majority decision at its December 17 session. Three members voted for a 75 bp increase.
The decision took the following aspects into account:
The board voted 4-3 to raise the benchmark interest rate by 50 basis points to 3.0%; three board members voted for a 75-basis point increase.
The decision was based on the following considerations:
On October 29, Banco de la República's board of directors (BDBR) decided unanimously to continue to normalize monetary policy. The board voted 5-2 to increase the policy interest rate by 50 basis points to 2.5%, with two dissenting members voting for a 25-point increase.
The decision took…
The board voted 5-2 to raise the benchmark interest rate by 50 basis points to 2.5%; the two dissenting board members voted for a 25-basis point increase.
This decision was based on the following considerations:
On September 30, Banco de la República's board of directors (BDBR) decided unanimously to begin the process of normalizing monetary policy. The board voted 4-3 to increase the policy interest rate by 25 basis points to 2.0%, with three dissenting members voting for a 50-point increase.
The…
The board voted 4-3 to raise the benchmark interest rate by 25 basis points to 2.0%; the three dissenting board members voted for a 50-basis point increase.
This decision was based on the following considerations:
The new member of the Board of Directors studied economics at Universidad de los Andes and holds a PhD in Economy from the University of Illinois Urbana-Champaign. Between 1993 and 1997, Mr. Carrasquilla was the Deputy Technical Governor at Banco de la República.
Alberto Carrasquilla…
On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion). This allocation strengthens the international liquidity of the Fund’s 190…
After a thorough evaluation of economic activity, inflation and international financial conditions, Banco de la República's board of directors (BDBR) on July 30 voted by majority to hold the benchmark interest rate at 1.75%.
The monetary policy discussion centered on the following…
Banco de la República's board of directors (BDBR) in its meeting on July 30 voted by majority to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:
After a thorough evaluation of economic activity, inflation and international financial conditions, Banco de la República's board of directors (BDBR) voted unanimously on June 28 to hold the benchmark interest rate at 1.75%.
The monetary policy discussion centered on the following…
Banco de la República's board of directors (BDBR) in its meeting on June 28 voted unanimously to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:
