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Investment, a crucial driver of a country’s economic growth, is intricately linked with increased productive capacity and infrastructure. After a notable upturn in certain investment components in 2021 and 2022, Colombia experienced a significant investment decline in the past year. High levels of…
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In 2023, the Colombian economy experienced a slowdown in economic activity, registering annual growth of 0.6% after the historical highs experienced in 2021 and 2022. This same year, inflation began to converge to the target, reaching 9.3 % at yearend amid a backdrop of a weakening in domestic…
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Annual inflation has been decreasing for a year and is projected to continue, with inflation at 5.5% in December and the 3% target to be reached in 2025.
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Inflation continues to decline but remains well above 3%. It is anticipated to decrease significantly in 2024 and draw closer to the established target in the first half of 2025.
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After facing the adverse effects brought on by the COVID-19 pandemic, in 2021 and 2022 the Colombian economy grew at a remarkable pace, reflected in a widening of the current account deficit to levels close to its historical maximums (-5.6% and -6.1% of GDP, respectively). In contrast,…
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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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Rent is the most important CPI component for Colombian households, representing approximately one-fourth of the household’s index expenditures. Price increases for this component exhibit signifcant inertia because they are indexed to the headline infation of the prior year. In turn, this introduces…
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The global economy experienced a substantial rise in infation in the aftermath of the COVID-19 pandemic and ensuing disruptions in the international supply chain, in addition to the impact on international energy prices resulting from the war between Russia and Ukraine. In emerging economies, this…
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In August 2024, it was projected that family remittance income received in Colombia surpassed USD 1000 million for three consecutive months, an amount of USD 187 million above the monthly average for 2023. The sustained increase of this external income has enhanced the signifcance of this component…
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In the third quarter, headline inflation continued to decrease and is expected to continue doing so gradually to reach 3.0% by the end of 2025.
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I. Performance of Credit Institutions (CIs)
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Given the increase in the working-age population, the employment-to-population rate (ER) remained stable in the recent period, standing at 57.5% in the last rolling quarter, with a notable difference between urban areas (59%) and other municipalities and rural areas (55.9%).
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Notes at the 27th Asobancaria Treasury CongressLeonardo Villar, Governor of Banco de la República (the Central Bank of Colombia)Cartagena, 13 February 2025Thanks to Asobancaria, and particularly to Jonathan Malagón and Alejandro Vera for the invitation to this event.
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Cartagena,
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Macroeconomic environmentThe International Monetary Fund (IMF) and the World Bank estimate that the global economy grew by 3.2% in 2024, a rate similar to that observed in 2023 (3.3%). This occurred in a context of moderating inflation and declining monetary policy interest rates in most countries.…
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Annual infation is computed using the consumer price index (CPI), the twelve months included in this calculation are weighted equally. Consequently, price variations during the period analyzed may lead to an underestimation or overestimation of the signifcance of the information included in the…
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Several studies have pointed to the infuence of the minimum legal wage (SM for its Spanish acronym) on the labor market and the observed distribution of wages and prices in the economy, among other effects. In 2022, Banco de la República conducted a comprehensive study on the macroeconomic effects…
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The activities and operations of an industrial company rely largely on energy sources such as electricity and gas, in addition to other elements, including raw materials and labor. Manufacturing operations are the primary consumer of multiple energy sources within the industry sector, whereas…
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Inflation has fallen significantly, from 9.3% in 2023 to 5.2% in 2024. During this year and into the next, inflation would continue to decline towards the inflation target.
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Artículo publicado en: Revista Colombiana de Estadística, vol. 35, núm. 3, pp. 477-506, diciembre, 2012.
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Artículo publicado en: Ensayos sobre Política Económica, vol. 30, núm. 68, pp. 274-295, junio, 2012
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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 use…
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In its virtual meeting today, the Committee for the Coordination and Surveillance of the Financial System, whose members are the Minister of Finance, the Governor of the Central Bank, the Financial Superintendent, and the Director of FOGAFIN (National Deposit Insurance Fund), analyzed aspects that…
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