Bogotá, Colombia
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- Publicación |Using monthly information on retail trade, we study the short-term dynamics of household consumption variations in Colombia. Based on a sample of retail trade excluding fuels and vehicles, we find that the growth of household consumption can be explained by lags in the Economy Monitoring Indicator…
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Inflation indicators surpassed expectations, staying above the targets set by most central banks.
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Law 2381 of 2024, “Whereby the Comprehensive Social Protection System for Old Age Disability, and Death (Sistema de Protección Social Integral para la Vejez, Invalidez y Muerte, in Spanish) of common origin is established, and other provisions are issued,” creates the Reserve Fund of the…
- Publicación |International macroeconomic environmentThe global economy would continue to grow in 2024 at a rate slightly higher than 3.0%, according to forecasts from the International Monetary Fund (3.2%) and the Organization for Economic Cooperation and Development (3.1%).This dynamic is lower than the pre-…
- Publicación |After a protracted period of financial deepening following a financial crisis at the end of the 20th century, the ratio of corporate bank loans to GDP in Colombia stagnated between 2016 and 2019.
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During the second quarter, headline inflation remained stable, while core inflation continued to fall. Inflation would continue its measured downward path to meet its 3.0% target by the end of 2025.
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This Box summarizes the main findings on central banks’ experience with asset purchases in response to the Covid-19 pandemic, emphasizing the Colombian case.
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Recent analyses in the U.S. suggest that the cycle of increases in its benchmark interest rate was accompanied by the inversion of its yield curve and an increase in the probability of recession. The yield curve is understood to be inverted when long-term (10-year) bond rates…
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Global inflationary pressures remain high, although showing a downward trend, while economic activity demonstrated greater resilience than expected.
- Publicación |This paper empirically examines the effects of international remittances on local house prices. International remittances are one of the main drivers of capital inflows in emerging economies. We consider the salient case of Colombia.
- Publicación |I. Performance of Credit Institutions (CIs)Credit institutions in Colombia have adequate capital and liquidity levels to face the materialization of risks at both the individual and consolidated levels.In line with the macroeconomic adjustment, credit growth continued to exhibit negative real rates…
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International Macroeconomic Environment
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In recent years, Colombia economy has seen a growing trend in the digitalization of payments (perhaps partly as a consequence of the pandemic). This is evident in the increased use of electronic channels.
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The U.S. financial system experienced a period of stress during March 2023 in which several regional banks including First Republic Bank, Silicon Valley Bank, Signature Bank, and Silvergate Bank, etc., were affected. The collapse of these institutions had multiple causes and exposed the…
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Automatic price adjustment mechanisms, known as indexing, have mainly been a relatively common practice in developing economies even under different macroeconomic environments. These mechanisms often arise spontaneously in agents’ private contracts as a tool to protect themselves from high and…
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Banco de la República (Banrep) and DANE jointly disclosed the esults of the Quarterly National Accounts of Institutional Sectors (CNTSI in Spanish) as of June 2021. This work is the result of a joint effort made by the two entities seeking to generate statistics that meet international quality…