Huertas-Campos, Carlos Alfonso

External demand during the first half of 2013 was somewhat weaker than expected. In the United States, our largest trading partner, the increase in private spending is being offset partly by fiscal consolidation, which has led to a slight decline in the forecast for that country’s growth. The…

Global economy continued to recover in the fourth quarter of 2013, thanks to the added momentum in the developed economies, especially the United States. In the euro area, the economic indicators pointed to low, but positive economic growth. Growth in the major emerging countries of Asia and…

OBJECTIVESMonetary policy in Colombia is based on inflation targeting, which is intended primarily to keep inflation low and to ensure stable growth in output near its long-term trend. Accordingly, the objectives of monetary policy combine the goal of price stability with…

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

For central banks that have adopted an inflation targeting strategy, measuring and understanding inflation expectations are important tasks when designing monetary policy, because they influence the dynamics of price increases in a number of ways.

OBJECTIVESMonetary policy in Colombia is based on inflation targeting, which is intended primarily to keep inflation low and to ensure stable growth in output near its long-term trend. Accordingly, the objectives of monetary policy combine the goal

The literature on the inflation targeting strategy1 highlights four channels for monetary policy pass-through: inflation expectations, the exchange rate, aggregate demand and credit. It is through these channels that changes in the central bank’s benchmark rate manage to…

OBJECTIVES

OBJECTIVES

OBJECTIVES

The Inflation Targeting Scheme in Colombia

The Inflation Targeting Scheme in Colombia 

OBJECTIVES

The Inflation Targeting Scheme in Colombia 

OBJECTIVES

The Inflation Targeting Scheme in Colombia 

OBJECTIVES

The Inflation Targeting Scheme in Colombia