Monetary Policy

The increase in inflation is the result of the convergence of multiple phenomena, including historically high external and internal cost shocks and high levels of demand. Added to these, indexation processes to higher inflation rates and exchange rate pressures on prices in a context of…

During the previous month, adverse financial conditions worsened, brought on by global and idiosyncratic factors. These conditions caused —among other effects— a higher monthly depreciation than that of other emerging economies. 

Six Board Members voted in favor of this decision and one member voted for a 50-bp increase.

In its policy discussion, the Board considered the following elements:

Six board members voted in favor of this decision and one voted for a 100 basis point increase.

The decision was based on the following considerations:

The decision to raise the benchmark interest rate to 7.5% was unanimous, and was based on the following considerations:  

The decision was based on the following considerations:

On April 29, 2022, the Executive Board of the International Monetary Fund (IMF) approved a successor two-year arrangement under the Flexible Credit Line (FCL) for 7,155.7 million Special Drawing Rights (SDR) (i.e., 350% of the country’s quota at the Fund), equivalent to about…

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 informs that:

The upcoming auction of the program for accumulation of international reserves through Put Options will take place on 3 December 2018, amounting to USD 400 million.  The options will be in force from 4 December 4 to 28 December 2018.

The Board of Directors of the Central Bank of Colombia ratified its commitment with the stability of prices by establishing the target of inflation for 2015 at 3%, with a range of ±1 bp.  The Board reiterates that monetary policy actions will continue to seek that inflation be maintained…

In its meeting today, the Board of Directors of Banco de la Republica ratified their commitment to keep the inflation target at 3% and confirmed that the monetary policy measures will continue to be directed towards holding inflation at that value. Low and stable inflation is the best…

At its meeting today, the Board of Directors of Banco de la Republica, the Central Bank of Colombia, decided to keep its intervention rate unaltered. In this manner, the base rate for expansion auctions will remain at 4.75%. The following factors were taken into account in the decision-making…

At its meeting today, the Board of Directors of Banco de la Republica, the Central Bank of Colombia, has decided to lower its intervention interest rate by 25 basis points. In this manner, the base rate for expansion auctions will be 5%. This decision was based on the following factors taken…

1.      A marginal reserve ratio was imposed on each type of local currency liability in amounts that exceed the level registered on May 7. The following percentages apply:

Banco de la República, pursuant to a decision reached earlier by its Board of Directors, announces it will continue its active and discretional intervention in the exchange market.  The monetary expansion resulting from that intervention is offset by the Bank to keep short-term interest…