Monetary Policy

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The Board of Directors of Banco de la República will also assess monetary policy conditions in May, August, and November 2020	At its meeting in November 2017, the Board of Directors of Banco de la República (BDBR) adopted a new scheme for monetary policy decisions, according to which, ordinarily, no monetary policy decisions would be made in the months of February, May, August, and November each year.
The Board of Directors of the Banco de la Republica has unanimously decided to keep the monetary policy rate unchanged at 1.75%	During today’s meeting, the Board of Directors of the Banco de la Republica unanimously decided to hold the policy rate at 1.75%. This decision was made on the basis of the following considerations:
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…
The Board of Directors of the Central Bank of Colombia (BDBR) unanimously reduced the benchmark interest rate by a quarter percentage point to 2.0%	The Board of Directors of the Central Bank of Colombia (BDBR) unanimously reduced the benchmark interest rate by a quarter percentage point to 2.0%. For this decision, the Board mainly took into account the following elements:
The purpose of the monetary policy	The primary objective of monetary policy is to reach and maintain a low and stable inflation rate, and to achieve a long-term GDP growth trend. This is the only way to achieve sustained growth rates that will generate employment and improve the population’s quality of…
What does Banco de la República do to reinforce and inform monetary policy decisions?	It emphasizes its commitment to bring inflation in line with the target as the primary objective of monetary policy, according to the constitutional mandate to maintain the purchasing power of the Colombian peso and to help improve the well-being of the population. …
Why is it essential to have a low and stable inflation rate?	A low and stable inflation rate improves the well being of the population. This is manifested in various ways:

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