Servicios
|
Monetary policy plays a fundamental role in the pursuit of economic stability and its effectiveness is closely linked to its credibility. In the context of monetary policy, credibility refers to the degree of confidence that economic agents have that the central bank will achieve its objectives of…
|
|
The levels of the monetary policy interest rate (MPR) are periodically set after deliberation processes within the Board of Directors of Banco de la República (the Central Bank of Colombia). These discussions are informed by a detailed assessment of the performance of inflation, inflation…
|
|
Foreign investors made significant sales of their holdings of local public debt securities during 2023. Specifically, they sold COP 9.1 t in peso-denominated TES and COP 2.4 t in UVR-denominated TES respectively. This represented a 11.7% decrease in their balance in pesos compared to what was seen…
|
|
On 19 December 2023, the Board of Directors of Banco de la República (BDBR) announced the start of a Foreign Reserves (FRs) Accumulation Program for a maximum amount of USD 1,500 million (m). The purpose of this program is to ensure adequate levels of external liquidity and prepare for a potential…
|
|
The government bonds market in Colombia incorporates relevant information for the analysis of expectations regarding inflation, MPR, and economic growth. Therefore, the dynamics of these interest rates are an essential input for monetary policy decisions.
|
|
In recent years, foreign investors have exhibited a lower appetite for Colombian equities, with their participation decreasing from 16% at the end of 2018 to 11% in June 2024. This decline may be attributed to the reduction in Colombia’s participation in international benchmark indexes for emerging…
|
|
The monetary policy of Banco de la República (the Central Bank of Colombia) aims to maintain a low and stable inflation rate in coordination with overall economic policy. To achieve this, Banrep follows an inflation targeting framework within a flexible exchange rate regime; in other words,…
|
|
This report analyzes several indicators to measure the concentration of credit and deposit markets in Colombia and in some peer jurisdictions (Mexico, Peru, and Chile). Additionally, recognizing that the relationship between concentration, competition, and market power is not direct, two exercises…
|
|
This special report analyzes the exposure and performance of credit risk among credit institutions (CIs) with the latest available information, aiming to continue monitoring the evolution of delinquency in detail. According to the analysis presented in this report and aligned with the adjustment…
|
|
ApproachFiscal rules, also known as fiscal responsibility norms, refer to restrictive measures of fiscal policy at either the national or subnational level, through which the sustainability of public finances is sought to be guaranteed. These rules can be quantitative (those that set numerical…
|
|
Inflation indicators remain above the target of most central banks despite continuing to show a decline in most countries.
|
|
Global economy proved resilient during the period analyzed, although with some differences among major economies.
|
|
Inflation indicators surpassed expectations, staying above the targets set by most central banks.
|
|
The global economy proved resilient during the period analyzed, although signs of a slowdown emerged towards the end of the quarter.
|
|
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…
|
|
I. Performance of Credit Institutions (CIs)CIs in Colombia have adequate capital and liquidity levels to face risk materialization, both at the individual and consolidated levels.As of the third quarter of 2024, total assets and the gross loan portfolio of CIs continued to contract, although at a…
|
|
The dynamics of the primary markets in which the financial system participates (e.g., credit, deposits, and fund management, among others) are intricately connected to the performance of the household sector, given its significant role in each of these areas. This report is created considering the…
|
|
In recent months, employment has continued to deteriorate at a moderate pace. According to data from the Official Colombian Household Survey (GEIH by its acronym in Spanish), national aggregate employment declined by 1.8% over the past six months, driven mainly by the rural area, while urban…
|
|
Data from the Official Colombian Household Survey (GEIH by its acronym in Spanish) suggests that, following a period of contraction, national employment has stabilized in recent months, reaching levels close to 22.9 million employed people in the quarter ending in May 2024. This performance…
|
|
In recent decades, Colombian banks have significantly expanded their presence in Central America, leading to increased exposure in the region. This expansion has primarily been achieved through 14 banking subordinates, which, as of June 2024, had assets worth COP 202.5 trillion, representing 18.1%…
|
|
1. First vulnerability: Sudden changes in global financial conditionsAs of September 2024, the likelihood of a reduction in the U.S. Federal Reserve policy rate has increased, raising the possibility that external financial conditions may loosen by the end of 2024.
|
|
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-…
|
|
International Macroeconomic EnvironmentIMF measurements indicate that global gross domestic product (GDP) growth was reduced from 3.5% in 2022 to 3.1% in 2023, and according to World Bank estimates, from 3.3% to 3.0%.
|
|
Este reporte presenta los resultados de la Encuesta trimestral sobre la situación del crédito en Colombia con corte a diciembre de 2024, en la que participan los establecimientos de crédito (EC) que otorgan préstamos: bancos, compañías de financiamiento (CFC) y cooperativas financieras (…
|
|
Transportation services play a critical role across all sectors of the economy by facilitating the movement of goods and services at all production levels. Although not all goods produced in a country require transportation due to inventory accumulation in industries and businesses or because…
|
