Monetary Policy

Transparency is fundamental to accountability on the part of independent central banks. Because they have been granted greater independence, the transparency of these institutions is seen as a mechanism that offers society the ability to assess whether a central bank's actions are consistent…

On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion).  This allocation strengthens the international liquidity of the Fund’s 190 member…

Banco de la República increased the allotment of liquidity auctions from $17 trillion to $20 trillion as of Tuesday, 17 March 2020. The $3 t increase is destined to expand the allotment for the auction of REPOS backed by private instruments, which will increase from the current $5 t to $8 t.…

In its extraordinary session on 23 March 2020, the Board of Directors of the Central Bank decided to inject permanent liquidity to the economy in order to ensure the proper operation of financial markets.

To do so, the Board decided the following:

At its meeting today, the Board of Directors of the Central Bank (BDBR) decided to roll over the non-delivery forward contracts for the sale of US dollars through auctions held on the dates of maturing contracts until 30 October 2020.

At its meeting today, the Board of Directors of the Central Bank (BDBR) decided to roll over non-delivery forward contracts for the sale of US dollars through auctions held on the dates of maturing contracts until 25 September (i.e., the date of the Board's meeting in September).

The Board of Directors of Banco de la República (BDBR), in its session today, adopted measures that reinforce those taken in previous days to ensure liquidity of the economy both in US dollars and in pesos.

Banco de la República (the Central Bank of Colombia) hereby informs that as of today (16 April 2020) solidarity bonds will be included as eligible instruments in its liquidity operations (repo, definitive purchases, and the lender of last resort facility).

The list of agents, eligible…

With the aim of increasing international reserves, and taking into account the monetization of US dollars foreseen by the National Government, the Central Bank of Colombia bought USD 2,000 million through the General Directorate of Public Credit and National Treasury of the Ministry of Finance…

In its extraordinary session today, the Board of Directors of Banco de la República (the Central Bank of Colombia) decided to inject permanent liquidity to the economy by reducing reserve requirements as follows:

The Board of Directors of Banco de la República, in its meeting today, unanimously decided to maintain the benchmark interest rate at 4.25%. For this decision, the Board mainly took into account the following aspects:

The Board of Directors of Banco de la República, in its meeting today, unanimously decided to maintain the benchmark interest rate at 4.25%

The Board took into consideration the following information:

With the purpose of reinforcing the adequate supply of liquidity to the economy and support the credit supply required by corporations and households, at its meeting today, the Board of Directors of the Central Bank of Colombia (BDBR) decided to maintain the REPO collateralized with bank credit…

With the purpose of reinforcing the adequate supply of liquidity to the economy and supporting the credit supply required by firms and households, the Board of Directors, at its meeting today, authorized the Central Bank to carry out repo operations collateralized with bank credit claims for up…

The Board of Directors of Banco de la República, in an extraordinary session today with guest attendance of the Financial Superintendent, adopted measures to reinforce those taken in previous days to ensure liquidity in the economy in both pesos and US dollars and in financial markets in order…

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…

For this decision, the Board mainly took into account the following information:

The Board of Directors mainly took into consideration the following information:

At its meeting today, the Board of Directors of Banco de la República (BDBR) decided to roll over Non-Delivery Forwards maturing in August through auctions to be held on maturity days. 

Banco de la República will roll over foreign-exchange hedging (NDF) with maturities in June through auctions. Also, it will continue to auction the non-allotted amount for authorized operations (NDF and Swaps).