Programming and Inflation Department

Banco de la República (the Central Bank of Colombia) is required by the Constitution to maintain the purchasing power of Colombia’s currency in coordination with general economic policy1. In order to fulfill this mandate, the Central Bank of Colombia’s Board of Directors…

Monetary Policy in Colombia

As per its constitutional mandate, Banco de la República must ensure that the purchasing power of the currency is maintained in coordination with the general economic policy1. In order to fulfill this mandate, the Board of Direc­tors of…

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…

Banco de la República is currently in the process of modernizing its Inflation Report with the goal of communicating an analysis of economic conditions and forecasts for the economy in a better way. For that reason, as of the October edition, the report will be structured as…

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…

In December 2018, inflation and all core inflation indicators fell close to the 3.0% target. Inflation expectations to one and more years are around 3.5%. The new economic activity figures for the last quarter of 2018 suggest that economic growth is still recovering from levels of output lower…

In March, inflation stood at 3.21% (graph A) and the average of core inflation indicators is 2.82%. These figures are lower than was expected a quarter ago and close to the 3.0% inflation target. The lower actual inflation versus the forecast is explained mainly by tradables (0.9%) and non-…

In the third quarter of 2018, inflation rose less than expected by analysts and

During the second quarter of 2018, inflation and inflation expectations, as well as several of the core inflation indicators, tended to stabilize and stood close to the 3.0% target. In that period, the economy´s growth could have been low, although improving, with a spare capacity that would…

In the first quarter of 2018, inflation and core inflation fell more than projected and accelerated their convergence to the 3.0% target. In March 2018, the annual variation of the CPI and the average of core inflation indicators stood at 3.14% and 3.64%, respectively. These figures were close…

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

Monetary 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.…

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

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

OBJECTIVES

OBJECTIVES

OBJECTIVES