In Latin America, inflation remained above central banks’ inflation targets in most economies, and monetary policy decisions were mixed. In Colombia, Banco de la República (the Central Bank of Colombia, BanRep) maintained its monetary policy rate (MPR) at 9.25%, while the Colombian peso (COP)…
Bogotá, Colombia
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This study updates the 4GM model used by Banco de la República (the Central Bank of Colombia) for monetary policy analysis. The update explicitly incorporates labor‑market dynamics, including the evolution of the unemployment rate and wages. The aim is to capture how…
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This document contains: i) the 2025 Management of Banco de la República’s (the Central Bank of Colombia, Banrep) main projects and the distribution of the investment budget with its respective management indicator; and ii) the Action Plan for the year 2026.
For more information, see other…
- Publicación |Economic news contains qualitative and forward-looking information that traditional data cannot capture. The sentiment and uncertainty indices synthesize this information and translate it into useful signals to enhance the analysis of short-term dynamics and turning points in economic activity.
- Publicación |The results show considerable heterogeneity in the adoption and use of payment methods and reveal that mobile wallets broaden the range of options available to users.
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Real retail sales grew in the region, surpassing the national average. This performance was driven by higher household income, improved business and consumer confidence, and favorable credit conditions. The automotive sector led the gains, driven by sales of hybrid and electric vehicles, while…
- Publicación |The results show a significant increase in formal employment among eligible firms, ranging from 11 to 18 percentage points compared to non-beneficiaries. This impact persisted for up to two years after the program ended.
- Publicación |In the Colombian labor market, possessing a broad and diverse set of skills and knowledge—beyond basic requirements for each occupation—can make a significant difference in wage determination.
- Publicación |Evidence shows that the transmission of global shocks to domestic financial conditions was significantly stronger during the period of high foreign participation (2014–2022) and weakened after 2023 as foreign holdings declined.
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Between March and September 2025, global financial markets showed signs of recovery. However, uncertainty persists due to high global debt, trade tensions, and geopolitical conflicts.
- Publicación |Main characteristics of Banco de la República's reserves management policyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, called…
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After conducting a comprehensive review of the sanctioning regimes applicable to foreign exchange and monetary operations, Banco de la República (BanRep) introduced a new framework of consequences for addressing non‑compliance within the context of open market operations (OMOs), liquidity…
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Between 22 April and 03 May 2024, the International Monetary Fund (IMF) provided technical assistance to assess the Colombian foreign exchange market and its regulatory framework, and to identify strategies to strengthen its development while ensuring the preservation of financial stability.
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Twenty years after the creation of the Center for Regional Economic Studies (CEER in Spanish), this work compiles its history and recalls the particularities of the Caribbean region through six dimensions: historiography, economic and social studies, archeology, political structures, culture,…
- Publicación |Neighborhoods that initially had high crime rates, and that were connected to the cable cars experience a significant decrease in the likelihood that their residents engage in criminal activities, and this change is proportional to the reductions in travel time provided by the new infrastructure.
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“El Estado General de todo el Virreynato de Santafé de Bogotá de 1794" (Overview of the Viceroyalty of Santafé de Bogotá, 1794) is a map of a land far away in time, the viceroyalty of the Nueva Granada at the end of the 18th century. In this contemporary compendium, historians and curious…
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This volume gathers several texts on the economic situation of the Nueva Granada in the final years of the colonial period. Economics was not yet an independent discipline, and these documents were written, as well as those by other Spanish or American financial experts at the time, to comply…
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Interested in exploring trade possibilities with Colombia, the Department of Commerce sends Mr. P. L. Bell to study the situation of agriculture, industry, mining, and commerce in Colombia. It seems that he was in the country in 1918 and 1919. The report was published in 1921.
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In this digital book, Banco de la República (the Central Bank of Colombia) makes available to researchers and libraries of the country all the Colombian memoirs of taxes and treasury published in the 19th century. It is a bibliographic tool that we hope will be extremely useful for analysts,…
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This essay aims to review the main economic writings by Rafael Núñez and analyze his economic thought. Thus, it aims to focus on the historic role of Núñez as an economist rather than a statesman or as the leader of the period known as "Regeneración." By way of introduction and as a frame of…
