BanRep Blog | Monetary policy and the Credibility of Banco de la República
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Learn why credibility at Banco de la República is important and how it helps bringing down annual inflation to its 3% target.
Publication Date:
15:45
The Colombian Constitution and law establish that Banco de la República’s (the Central Bank of Colombia) primary mission is to preserve the purchasing power of the national currency, consistent with overall economic policy. The purchasing power of the Colombian peso depends on the prices of goods and services traded in the economy, which in turn are determined by the interaction of supply and demand.
