Monetary Policy

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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…

PRESS RELEASE PROGRAM OF ACCUMULATION OF RESERVES

At its meeting today, the Board of Directors of the Central Bank decided to continue with its program for the accumulation of international reserves.

The upcoming auction of the program for the accumulation of international reserves through PUT  options will be held on 30 April 2019, in…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

Banco de la República (the Central Bank of Colombia, BR) hereby informs that in August 2020 it did not make any purchases or sales of TES B in the market. At the end of August, the outstanding balance of TES held by BR was COP $20,702.0 b (value at market prices).

The TES portfolio of BR (…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

Banco de la República (the Central Bank of Colombia, BR) hereby informs that in September 2020 it did not make any purchases or sales of TES B in the market. At the end of September, the outstanding balance of TES held by BR was COP $20,779.3 billion (value at market prices).

The TES…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

At the end of June, the outstanding balance of TES held by BR was COP $20,540.3 b (value at market prices). The TES portfolio of BR (expressed in nominal terms) is composed of peso-denominated TES (COP $15,928.8 b) and UVR-denominated TES (UVR 8.2 b.).

In July 2020, none of the TES B held…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

Banco de la República (the Central Bank of Colombia, BR) hereby informs that in October 2020 it did not make any purchases or sales of TES B in the market. At the end of October, the outstanding balance of TES held by BR was COP $20,651.7 billion (value at market prices).

The TES portfolio…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

Banco de la República (the Central Bank of Colombia, BR) hereby informs that in July 2020 it did not make any purchases or sales of TES B in the market. At the end of July, the outstanding balance of TES held by BR was COP $20,790.7 b (value at market prices).

The TES portfolio of BR (…

Purchases / Sales of TES, Foreign Exchange, and TES Portfolio Holdings by Banco de la República

Banco de la República (the Central Bank of Colombia, BR) hereby informs that in November 2020 it did not make any purchases or sales of TES B in the market. At the end of November, the outstanding balance of TES held by BR was COP $20,876.1 billion (value at market prices).

The TES…

Renewal of NDFs by the Central Bank of Colombia

On 27 March 2020, Banco de la República announced that the maturities of NDFs that expired before 25 April 2020 would be renewed.

This announcement was mistaken in the sense that the date announced should have been that of the day following the April meeting of the Board of Directors.…

Sale of US dollars through non-delivery forward contracts

Banco de la República (the Central Bank of Colombia) will roll over forward contracts maturing in November.

At its meeting today, the Board of Directors of the Central Bank (BDBR) decided to roll over non-delivery forward contracts for the sale of US dollars through auctions held on the…

The Board of Directors of Banco de la República (BDBR) adopted additional measures regarding liquidity, and unanimously cut the benchmark interest rate half a percentage point to 3.75%.

 [Video] Press Conference with the Governor of the Central Bank of Colombia

Juan José Echavarría, Governor, and Hernando Vargas, Deputy Technical Governor, answer questions from analysts and journalists related to the decision reached today by the Board of Directors.

The Board of Directors of Banco de la República (BDBR), by majority, reduced the Benchmark Interest Rate by half a Percentage Point to 2.75%

The Board of Directors of the Central Bank of Colombia (BDBR), by majority, reduced the benchmark interest rate by half a percentage point to 2.75%. In this way, it continues with the countercyclical monetary policy stance.

This decision took the following elements into consideration:

The Board of Directors of Banco de la República (the Central Bank of Colombia, BDBR) reduced the benchmark interest rate by a quarter percentage point to 1.75% with a 4-3 vote

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

The Board of Directors of Banco de la República (the Central Bank of Colombia) takes new liquidity measures

On Monday 16 March 2020, the members of the Board of Directors of the Central Bank met with the Technical Deputy Minister of Finance in the morning, and with the Financial Superintendent in the afternoon, to monitor market dynamics, indicators of the financial system, and the results of the…

The Board of Directors of Banco de la República holds the inflation target at 3.0% for 2022

Act 31/1992 stipulates that the Board of Directors of Banco de la República must define and announce the inflation target. In accordance with this legal mandate, the BDBR is prepared to announce that it has set a target of 3.0% within a range of 2.0% to 4.0%. Inflation has risen…

The Board of Directors of Banco de la República reduced by half a percentage point the benchmark interest rate to 3.25%, and took additional measures to provide liquidity to the economy

[Video] Press Conference with the Governor of the Central Bank of Colombia

Juan José Echavarría, Governor, and Hernando Vargas, Deputy Technical Governor, answer questions from analysts and journalists related to the decision reached today by the Board of Directors.

The Board of Directors of Banco de la República reduced the Benchmark Interest Rate by one -fourth of a Percentage Point to 2.50%

The Board of Directors of Banco de la República (BDBR), by majority, reduced the Benchmark Interest Rate by half a Percentage Point to 2.50%. In this way, it continues with the countercyclical monetary policy stance.

This decision took the following elements into consideration: 

The Board of Directors of Banco de la República unanimously decided to cut the Benchmark Interest Rate by one fourth of a Percentage Point to 2.25%

The Board of Directors of Banco de la República (BDBR) unanimously decided to lower the Benchmark Interest Rate by one fourth of a Percentage Point to 2.25%. This decision took the following elements into consideration:

The Board of Directors of Banco de la República unanimously decided to maintain the Benchmark Interest Rate at 4.25%

In this decision, the Board took into consideration primarily the following information:

The Board of Directors of Banco de la República unanimously maintained the benchmark interest rate at 1.75%

The Board of Directors of Banco de la República, at today’s meeting, unanimously decided to maintain the benchmark interest rate at 1.75%. For this decision, the Board mainly took into account the following elements: