Monetary Policy

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Accountability, Communication, and Transparency

Transparency is a key element in the accountability processes of independent central banks. Because they have been given greater independence, transparency of these institutions is seen as a mechanism which provides society with the ability to assess if the actions taken by central...

Banco de la República (the Central Bank of Colombia) increases the allotment of repos with private debt instruments.

Banco de la República increased the allotment of liquidity auctions from $17 trillion to $20 trillion as of Tuesday, 17 March 2020. The $3 t increase is destined to expand the allotment for the auction of REPOS backed by private instruments, which will increase from the current $5 t to $8 t....

Banco de la República (The Central Bank of Colombia) injects permanent liquidity to the economy by purchasing public and private debt instruments

In its extraordinary session on 23 March 2020, the Board of Directors of the Central Bank decided to inject permanent liquidity to the economy in order to ensure the proper operation of financial markets.

To do so, the Board decided the following:

Banco de la República expands support to liquidity of the economy in pesos and US dollars

The Board of Directors of Banco de la República (BDBR), in its session today, adopted measures that reinforce those taken in previous days to ensure liquidity of the economy both in US dollars and in pesos.

Banco de la República Includes Solidarity Bonds in its Liquidity Operations

Banco de la República (the Central Bank of Colombia) hereby informs that as of today (16 April 2020) solidarity bonds will be included as eligible instruments in its liquidity operations (repo, definitive purchases, and the lender of last resort facility).

The list of agents, eligible...

Banco de la República increases International Reserves through the Direct Purchase of USD 2,000 Million to the National Government

With the aim of increasing international reserves, and taking into account the monetization of US dollars foreseen by the National Government, the Central Bank of Colombia bought USD 2,000 million through the General Directorate of Public Credit and National Treasury of the Ministry of Finance...

Banco de la República injects permanent liquidity to the economy by reducing reserve requirements and reinforces intervention in the public debt market

In its extraordinary session today, the Board of Directors of Banco de la República (the Central Bank of Colombia) decided to inject permanent liquidity to the economy by reducing reserve requirements as follows:

Banco de la República maintains the benchmark interest rate at 4.25%

The Board of Directors of Banco de la República, in its meeting today, unanimously decided to maintain the benchmark interest rate at 4.25%

The Board took into consideration the following information:

Banco de la República maintains the benchmark interest rate at 4.25%

The Board of Directors of Banco de la República, in its meeting today, unanimously decided to maintain the benchmark interest rate at 4.25%. For this decision, the Board mainly took into account the following aspects:

Banco de la República Reinforces Liquidity Supply and Supports Credit Supply

With the purpose of reinforcing the adequate supply of liquidity to the economy and supporting the credit supply required by firms and households, the Board of Directors, at its meeting today, authorized the Central Bank to carry out repo operations collateralized with bank credit claims for up...

Banco de la República reinforces measures to ensure liquidity in the economy in pesos and US dollars

The Board of Directors of Banco de la República, in an extraordinary session today with guest attendance of the Financial Superintendent, adopted measures to reinforce those taken in previous days to ensure liquidity in the economy in both pesos and US dollars and in financial markets in order...

Banco de la República transforms its Communication Scheme for Monetary Policy Decisions

At its meeting on 30 August 2019, the Board of Directors of Banco de la República (the Central Bank of Colombia) adopted a new communication scheme for monetary policy decisions. The purpose of these changes is to facilitate the understanding of the decisions by the markets and the general...

Banco de la República unanimously maintains the benchmark interest rate at 4.25%

For this decision, the Board mainly took into account the following information:

Banco de la República unanimously maintains the benchmark interest rate at 4.25%

The Board of Directors mainly took into consideration the following information:

Banco de la República will roll over NDFs maturing in June

Banco de la República will roll over foreign-exchange hedging (NDF) with maturities in June through auctions. Also, it will continue to auction the non-allotted amount for authorized operations (NDF and Swaps).

Exchange of Pubic Debt Instruments from Banco de la República with the Government

Banco de la República (the Central Bank of Colombia, BR) hereby informs that on 14 May 2020 it exchanged public debt instruments with the national government for COP $1,766 billion (nominal value) at market prices.

In this operation, BR delivered TES with maturities up to 2021, and...

How is the Monetary Policy implemented in Colombia?

As for the monetary policy instruments available to achieve the inflation target, Banco de la República performs auctions of REPO operations to provide liquidity to the banking system by granting one-day loans (sometimes at longer maturities) so that the one-day Reference Banking...

INTERNATIONAL RESERVES PROGRAM PRESS RELEASE

The upcoming auction of the program for the accumulation of international reserves through PUT options will be held on 1 April 2019, in the amount of USD 400 million.

The options will be in force between 2 and 30 April 2019.

Monetary Policy Decision-Making in an Environment of Uncertainty

The Bank decides over the monetary policy interest rate considering the analysis of the current situation of the economy, its outlook, and the evolution of the inflation forecast vis-à-vis the inflation target. If, as a result of this assessment, the Board concludes that there are...

Monetary policy in an uncertain environment

 

Monetary policy should continuously assess the state of the economy, as well as its future developments and prospects over the next four to eight quarterly terms. It is during this time span that changes in interest-rate intervention rates have their effect on other interest rates and...

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