What does the Central Bank of Colombia do to strengthen and inform monetary policy decisions?

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It emphasizes its commitment to bring inflation to the target as the primary objective of monetary policy in compliance with its constitutional mandate to maintain the purchasing power of the peso and contribute to improve the well-being of the population. 

It analyzes various economic indicators and uses a wide variety of models with different approaches (statistical and forecasting, structural, and simulation) to improve its capacity for economic forecasting.

  • Performs sensitivity analysis to assess the risks. For example, it analyzes how to inflation forecasts change under different scenarios of national and international conditions. 
  • It maintains a first-level technical staff, updated on the latest developments of analysis and economic techniques worldwide. 
  • It conducts research that contributes to understand how the economy works and to develop better methodologies for analysis.
  • It interacts with other central banks and remains open to the opinion of the academic community by organizing and participating in seminars and discussion forums on topics that are central to the Colombian and global economy. 
  • It organizes regular meetings with various sectors of the Colombian society (enterprises, workers, economic analysts, Congress members, etc.), in order to learn about their points of view and explain the decisions and results of the Central Bank's policies. 
  • It implements a policy of transparency by publishing and explaining monetary policy measures taken by the Bank.