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Banco de la República (the Central Bank of Colombia) Board of Directors (BDBR) has a regular schedule of meetings. In 8 of its 12 sessions the Board makes decisions on the level of the monetary policy rate. The other 4 are ordinary meetings, where other decisions are made.See additional information…
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Video only available in Spanish
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Video only available in Spanish
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At its meeting on 30 August 2019, the Board of Directors of Banco de la República (the Central Bank of Colombia) adopted a new communication scheme for monetary policy decisions. The purpose of these changes is to facilitate the understanding of the decisions by the markets and the general public.
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One week before the meeting of the Board of Directors (BDBR) de la reunión JDBRMedia Blackout Period
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One week before the meeting of the Board of Directors (BDBR) de la reunión JDBRMedia Blackout Period
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Mergers of firms producing complementary products have ambiguous effects on consumer welfare. Consumers benefit if the firm, motivated by the internalized profits created by the complementarity, lowers prices. Consumers are hurt if the firm uses bundles to exert price discrimination, making…
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Exchange ratesRepresentative market exchange rate (TRM in Spanish)The exchange-rate series presents the historical behavior of the price of the U.S.
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The National Accounts System (SNA) defines the analytical framework under which the non-financial and financial statistics of any economy in general are compiled.
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Since the creation of Banco de la República (the Central Bank of Colombia) in 1923, the institution has been responsible for managing the country’s foreign reserves, which are one of its main external assets.<
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National accounts can be characterized as an integrated set of accounts that aim to provide a reliable and systematic measurement of the performance of macroeconomic variables of a region or country.
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Monetary policy rateThe monetary policy benchmark interest rate or benchmark rate is the minimum interest rate that Banco de la República (the Central Bank of Colombia) charges financial ins
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Labor market indicatorsThe labor market is where labor supply and demand interact. Labor supply refers to individuals who are willing to work, while labor demand comprises the employers that hire such workers.
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Monetary base and monetary aggregatesMonetary aggregates represent the measurement of the quantity of money in the economy.
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Consumer Price Index (CPI)The Consumer Price Index (CPI) is a measure of price changes of a market basket of goods and services representative of household final consumption.
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The purpose of this methodology sheet is to outline the composition of Colombia’s public sector, provide essential definitions for interpreting the displayed data, and identify the various sources of information used to obtain the data.
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In this paper we model the effect of migrant remittances on job creation and human capital formation, given migration prospects. Model calibration of deep parameters was performed with data from the AMCO survey on migration and remittances. The simulations based on the model show that remittances…
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We assess whether international remittances affect Colombian households expenditure composition and demand of education. We exploit the migratory wave that took place on late 90s due to one of the deepest crises in Colombian history, along with institutional barriers to migration, to identify the…
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This paper exploits the long history of the minimum wage in a relatively stable developing economy like Colombia in order to see whether it may alleviate the living conditions of low income families and reduce income inequality. The paper does not only explore how the minimum wage may serve this…
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Five Directors voted in favor of this decision, and two voted for a 25 basis-point reduction. In its policy discussion, the Board of Directors considered the following elements:
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Inflation remains on a downward path, falling for eight consecutive months and reaching 10.15% in November. The decrease in the annual food inflation from 10.36% in October to 8.25% in November substantially contributed to moderating headline inflation. In particular, the significant drop in annual…
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On April 29, Banco de la República's board of directors (BDBR) voted 4-3 in favor of a 100-basis point increase to the benchmark interest rate, bringing it to 6.0%; three board members voted for a 150-basis point increase. The decision took into account the following considerations:
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Four Board Members voted in favor of this decision. One Bord Member voted for an increase of 125 bp, and another voted for an increase of 25 bp.In their policy discussion, the Board of Directors considered the following elements:
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The decision was based on the following considerations:
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