Monetary Policy
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- Noticias |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…
- Noticias |Banco de la República (the Central Bank of Colombia, BanRep) informs that in August 2025 it did not make outright sales or purchases of TES B in the market.At the end of August 2025, the outstanding balance of TES held by BanRep was COP 30,360.1 billion (value at market prices).BanRep’s TES…
Purchases / Sales of TES and Foreign Currency, and TES Holdings by Banco de la República – July 2025
Noticias |Banco de la República (the Central Bank of Colombia, BanRep) informs that in July 2025 it made outright purchases of TES B in the market for COP 1,999.7 billion (value at market prices). These purchases were made in response to the difference between the projections of supply and demand of the…
- Noticias |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…
Purchases / Sales of TES and Foreign Currency, and TES Holdings by Banco de la República – June 2025
Noticias |Banco de la República (the Central Bank of Colombia, BanRep) informs that in June 2025 it did not make outright sales or purchases of TES B in the market.
At the end of June 2025, the outstanding balance of TES held by BanRep was COP 28,102.1 billion (value at market prices).
BanRep…
- Noticias |Between April and May, annual headline inflation edged down from 5.2% to 5.1%. Core inflation—excluding food and regulated items—also declined, from 4.9% to 4.8%.
- Noticias |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…
- Noticias |Annual inflation increased marginally to 5.3% in February, following a three-month period of stability at 5.2%. The most significant increases were observed in the prices of processed foods and certain regulated items, including gas and transportation. Inflation excluding food and regulated items…
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Communication is part of the implementation of monetary policy, as it explains the decisions made and contributes by guiding the agents’ economic expectations.
The monetary policy communication scheme is carried out through different channels:
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Banco de la República (the Central Bank of Colombia) main instrument to achieve the inflation target is the monetary policy interest rate. Decisions on the level of this interest rate consider the analysis of the current situation of the economy (prices, output, and employment, among others),…
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The Board of Directors of Banco de la República (the Central Bank of Colombia) sets the monetary policy interest rate (MPR), also known as reference interest rate or intervention rate, at a level consistent with achieving its 3.0% inflation target.
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Monetary policy in Colombia comprises the actions taken by Banco de la República (the Central Bank of Colombia) to comply with its constitutional mandate to maintain the purchasing power of the currency in coordination with the general economic policy.
- Basic page |What is a sovereign wealth fund?
A sovereign wealth fund is a state-owned investment fund through which assets are managed by investing them. Its resources generally come from surplus revenues from natural resources or commodities, the accumulation of foreign reserves, and savings from fiscal…
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Banco de la República (the Central Bank of Colombia) has access to the Federal Reserve Repurchase Agreement (Repo) Facility (FIMA), which is an instrument that facilitates access to immediate liquidity if required under extreme circumstances. In these transactions, FIMA account holders (central…
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The Political Constitution of Colombia1,Law 31 of 1992 and Decree 2520 of 1993(Bylaws of Banco de la República (the Central…
- Basic page |What is the Flexible Credit Line (FCL)?
The FCL is an instrument created by the International Monetary Fund (IMF) and designed to provide early and flexible financing to countries with very strong economic fundamentals and sound institutional economic policy frameworks. It is a temporaryi and…
- Noticias |In December, annual inflation remained at 5.2%, unchanged from the levels seen in November. Core inflation, excluding food and regulated items, fell from 5.4% to 5.2%, driven by lower inflation in services prices, whose inflation remains at 7%.The annual inflation rate has been steadily…
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Banco de la República (the Central Bank of Colombia, BanRep) informs that in December 2024 it did not make outright sales or purchases of TES B in the market.
At the end of December 2024, the outstanding balance of TES held by BanRep was COP 28,062.6 billion (value at market prices).…
- Noticias |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,…
- Noticias |The BDBR reiterates the 3% inflation target as a policy guideline and objective.Headline and core inflation measures continue to fall within an environment of economic recovery.The BDBR expects inflation to continue decreasing and converge to the 3% target by yearend 2025 (+/- 1%).Reducing…
