The Board of Directors of the Banco de la Republica is holding the inflation target at 3%

The Board of Directors is keeping the inflation target (annual change in the CPI) at 3% within a range between 2% and 4%.

The Board of Directors will continue careful monitoring of inflation trends, economic activity, the forecasts for these variables, and the international situation and reiterates that their decisions are intended to bring inflation to the 3% target in coordination with general economic policy.