Servicios
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El principal objetivo del Banco de la República es preservar la capacidad adquisitiva de la moneda, en coordinación con la política económica general, entendida como aquella que propende por estabilizar el producto y el empleo en sus niveles sostenibles de largo plazo.El adecuado cumplimiento del…
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Banco de la República’s main objective is to preserve the purchasing power of the currency in coordination with the general economic policy that is intended to stabilize output and employment at long-term sustainable levels.
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1.1 Macroeconomic summary
Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant…
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Webcast by our Deputy Technical Governor, Hernando Vargas.
Presentación del Informe de Política Monetaria a cargo del gerente general, Leonardo Villar, y de Hernando Vargas, gerente técnico del Banco de la República
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1.1 Macroeconomic Summary [Pág. 1]
Overall inflation (1.61%) and core inflation (excluding food and regulated items) (1.11%) both declined beyond the technical staff’s expectations in the fourth quarter of 2020. Year-end 2021 forecasts for both indicators were revised downward to 2.3% and 2.1%,…
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Webcast by our Deputy Technical Governor, Hernando Vargas.
Presentación del Informe de Política Monetaria a cargo del gerente general, Leonardo Villar, y de Hernando Vargas, gerente técnico del Banco de la República.
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1.1 Macroeconomic summary
The Colombian economy sustained numerous shocks in the second quarter, primarily related to costs and supply. The majority of these shocks were unanticipated or proved more persistent than expected, interrupting the recovery in economic activity observed at the…
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Presented to the Third Committe of the Senate by our Governor, Leonardo Villar Gómez.
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In compliance with Act of Congress 31/1992, Article 5, the Board of Directors of Banco de la República hereby submits to the honorable Congress of the Republic of Colombia a detailed report on the measures that Banco de la República has taken in the emergency situation generated by Covid-19 and…
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Presented to the Third Committe of the Senate by our Governor, Leonardo Villar Gómez.
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1.1 Macroeconomic summary
Economic activity has recovered faster than projected, and output is now expected to return to pre-pandemic levels earlier than anticipated. Economic growth projections for 2021 and 2022 have been revised upward, though significant downward bias remains. (Graph 1.1).…
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Webcast by our Deputy Technical Governor, Hernando Vargas.
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ApproachAt the end of each year, Colombia follows a negotiation protocol that leads to an increase in the minimum wage either by agreement between the parties or, in the absence of such agreement, by government decision. Despite evidence of its adverse effects on the labor market (formal employment…
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ApproachThis paper reviews the literature on the expected macroeconomic effects of the physical and transition risks of climate change, identifying the main strengths, weaknesses, and gaps. This review aims to contextualize climate change’s potential impact in Colombia in the coming decades and…
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Abstract
This document reviews the literature on the expected macroeconomic effects of climate related physical and transition risks (CRR), identifying the main strengths, weaknesses and gaps in said literature. This review seeks to contextualize its potential impact on Colombia in the coming…
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The purpose of the Financial Stability Report is to present Banco de la República (the Central Bank of Colombia)'s assessment of the recent performance of credit institutions and their borrowers, as well as the main risks and vulnerabilities that could affect the financial stability of the…
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Introduction
Banco de la República’s main goal is to preserve the purchasing power of the currency in coordination with the general economic policy that is intended to stabilize output and employment at long-term sustainable levels.
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In compliance with Article 5, Act of Congress 31/1992, the Board of Directors of Banco de la República hereby submits to the Congress of the Republic of Colombia their Report to Congress on the macroeconomic results for the fi rst half of 2022 and the outlook for what remains of the year for its…
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In an increasingly globalized world, it is common for companies, governments, and households to make transactions in currencies other than those of their own economy. This type of capital movement makes it possible, for example, to increase current spending, finance capital expansion projects, and…
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Throughout 2021, Banco de la República participated, together with the other safety net authorities of the Colombian financial system, in the Financial Sector Assessment Program (FSAP) coordinated by the International Monetary Fund (IMF) and the World Bank (WB). This box briefly describes the main…
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1.1 Macroeconomic summary
Several factors contributed to an increase in projected inflation on the forecast horizon, keeping it above the target rate. These included inflation in December that surpassed expectations (5.62%), indexation to higher inflation rates for various baskets in the…
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1. Summary
1.1. Macroeconomic summary
In the second quarter, annual inflation (9.67%), the technical staff’s projections and its expectations continued to increase, remaining above the target. International cost shocks, accentuated by Russia's invasion of…
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In compliance with Act of Congress 31/1992, Article 5, the Board of Directors of Banco de la República hereby submits to the Congress of the Republic of Colombia a detailed report on the measures that Banco de la República has taken in the emergency situation generated by Covid-19 and presents the…
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