OLD Prices, inflation and monetary policy

Banco de la República will roll over foreign-exchange hedging (NDF) with maturities in June through auctions. Also, it will continue to auction the non-allotted amount for authorized operations (NDF and Swaps).

The Board of Directors of the Central Bank of Colombia (BDBR), by majority, reduced the benchmark interest rate by half a percentage point to 2.75%. In this way, it continues with the countercyclical monetary policy stance.

This decision took the following elements into consideration:

Banco de la República (the Central Bank of Colombia, BR) hereby informs that on 14 May 2020 it exchanged public debt instruments with the national government for COP $1,766 billion (nominal value) at market prices.

In this operation, BR delivered TES with maturities up to 2021, and…

At its meeting in November 2017, the Board of Directors of Banco de la República (BDBR) adopted a new scheme for monetary policy decisions, according to which, ordinarily, no monetary policy decisions would be made in the months of February, May, August, and November each year.

With the purpose of reinforcing the adequate supply of liquidity to the economy and supporting the credit supply required by firms and households, the Board of Directors, at its meeting today, authorized the Central Bank to carry out repo operations collateralized with bank credit claims for up…

Presentación virtual del Informe de Política Monetaria a cargo del gerente general, Juan José Echavarría, y de Hernando Vargas, gerente técnico del Banco de la República.

The Coronavirus pandemic has generated a collapse in global economic activity. Additionally, Colombia has been severely affected by the collapse in the international price of oil.

The members of the Board highlighted the importance of the measures taken in recent weeks to ensure a wide and…

Juan José Echavarría, Governor, and Hernando Vargas, Deputy Technical Governor, answer questions from analysts and journalists related to the decision reached today by the Board of Directors.

The Economic Education Section hereby informs that the deadlines and conditions of the essay contest “De la banca escolar a la banca central” have been modified to ensure the participation of every school in the country. Please read the following information carefully:

New Deadlines

The United States Federal Reserve has guaranteed Banco de la República access to repos through FIMA. This facility has been open since 6 April 2020. Eligible institutions are central banks with custody accounts for US Treasury securities at the Federal Reserve. Banco de la República would make…

Banco de la República (the Central Bank of Colombia) hereby informs that as of today (16 April 2020) solidarity bonds will be included as eligible instruments in its liquidity operations (repo, definitive purchases, and the lender of last resort facility).

The list of agents, eligible…

In its extraordinary session today, the Board of Directors of Banco de la República (the Central Bank of Colombia) decided to inject permanent liquidity to the economy by reducing reserve requirements as follows:

On 27 March 2020, Banco de la República announced that the maturities of NDFs that expired before 25 April 2020 would be renewed.

This announcement was mistaken in the sense that the date announced should have been that of the day following the April meeting of the Board of Directors.…

The ordinary meeting of the Board of Directors of Banco de la República took place on 27 March 2020 in Bogotá D.C. In attendance were the Minister of Finance and Public Credit, Alberto Carrasquilla Barrera; the Governor of the Central Bank, Juan José Echavarría Soto; and Board Members Gerardo…

The Board of Directors of Banco de la República (BDBR), in its session today, adopted measures that reinforce those taken in previous days to ensure liquidity of the economy both in US dollars and in pesos.

Juan José Echavarría, Governor, and Hernando Vargas, Deputy Technical Governor, answer questions from analysts and journalists related to the decision reached today by the Board of Directors.

In its extraordinary session on 23 March 2020, the Board of Directors of the Central Bank decided to inject permanent liquidity to the economy in order to ensure the proper operation of financial markets.

To do so, the Board decided the following:

The Board of Directors of Banco de la República, in an extraordinary session today with guest attendance of the Financial Superintendent, adopted measures to reinforce those taken in previous days to ensure liquidity in the economy in both pesos and US dollars and in financial markets in order…

On Monday 16 March 2020, the members of the Board of Directors of the Central Bank met with the Technical Deputy Minister of Finance in the morning, and with the Financial Superintendent in the afternoon, to monitor market dynamics, indicators of the financial system, and the results of the…

Banco de la República increased the allotment of liquidity auctions from $17 trillion to $20 trillion as of Tuesday, 17 March 2020. The $3 t increase is destined to expand the allotment for the auction of REPOS backed by private instruments, which will increase from the current $5 t to $8 t.…