OLD Monetary Policy

In 2020, Banco de la República's board of directors (BDBR) took a series of steps to ensure liquidity in the economy and in financial markets in response to the risks and adverse effects caused by the COVID-19 pandemic. In an environment of extraordinary tension, these steps included the…

The board voted 5-2 to raise the benchmark interest rate to 5.0%; two board members voted for a 150-basis point increase.

The decision was based on the following considerations:

The board voted 5-2 to raise the benchmark interest rate to 4.0%; two board members voted for a 75-basis point increase.

The decision was based on the following considerations:

The board voted 4-3 to raise the benchmark interest rate by 50 basis points to 3.0%; three board members voted for a 75-basis point increase.

The decision was based on the following considerations:

The board voted 5-2 to raise the benchmark interest rate by 50 basis points to 2.5%; the two dissenting board members voted for a 25-basis point increase.

This decision was based on the following considerations:

The board voted 4-3 to raise the benchmark interest rate by 25 basis points to 2.0%; the three dissenting board members voted for a 50-basis point increase.

This decision was based on the following considerations:

On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion).  This allocation strengthens the international liquidity of the Fund’s 190…

Banco de la República's board of directors (BDBR) in its meeting on July 30 voted by majority to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:

Banco de la República's board of directors (BDBR) in its meeting on June 28 voted unanimously to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:

Banco de la República's board of directors (BDBR) in its meeting on April 30 voted 6-1 to hold the benchmark interest rate at 1.75%. This majority decision was based on the following considerations:

Banco de la República's board of directors (BDBR) in its meeting on March 26 held the benchmark interest rate at 1.75%. The unanimous decision to maintain an expansive monetary policy position takes into account the following considerations:

Banco de la República’s board of directors (BDBR) in its meeting on January 29 held the benchmark interest rate at 1.75%. The decision was based on the following considerations:

As delegated by the Board of Directors of Banco de la República, the Monetary and Exchange Intervention Committee decided today, in its ordinary session, that the Central Bank will rollover its U.S. dollar non-delivery forward contracts in February 2021, through auctions held on the maturity…

Banco de la República’s board of directors (BDBR) in 2021 will resume its regular practice of considering changes to the benchmark interest rate in only eight of its 12 ordinary annual meetings. The BDBR will continue to take up remaining issues within its purview in each of its meetings.

Banco de la República’s board of directors decided on December 18 to hold the benchmark interest rate at 1.75%. The decision was based on the following considerations:

The Board of Directors is keeping the inflation target (annual change in the CPI) at 3% within a range between 2% and 4%.

The Board of Directors will continue careful monitoring of inflation trends, economic activity, the forecasts for these variables, and the international situation and…

During today’s meeting, the Board of Directors of the Banco de la Republica unanimously decided to hold the policy rate at 1.75%. This decision was made on the basis of the following considerations: