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Countries in the region, like Colombia, are developing open finance frameworks. To achieve innovation, competition, and inclusion, it's essential to modernize payments, establish governance that fosters participation, and create robust systems that protect information and customer trust.

At its June meeting, the Central Bank’s Board decided to keep the policy rate unchanged at 4.50%. The monetary policy stance, measured by the ex-ante real reference rate, remains around neutral.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

Global trade rebounded in April 2025, driven by Asia and Latin America, while Europe remains weak. In the U.S., imports of autos and manufacturing goods from Mexico and pharmaceuticals from Ireland gained ground, anticipating tariffs. China stayed resilient despite tensions.

May’s inflation was 1.5% m/m (43.5% y/y), well below expectations (CB-consensus: 2.1% m/m, BBVAe: 1.9% m/m). Core inflation fell to 2.2% m/m in May.

Uruguay faces a global context of uncertainty and low growth. Domestically, there is a slowdown in GDP, fiscal challenges, and sluggish consumption and investment. However, the external sector is resilient, inflation remains stable, and the peso is showing strength.

GDP is projected to grow by around 2.5% in 2025 and 1.7% in 2026, maintaining a pace close to the medium-term trend despite a slowdown. This deceleration will be largely driven by shifts in U.S. trade policy and the heightened uncertainty they have triggered.

Colombia’s economy gains traction through consumption and easing interest rates, while investment gradually recovers. Inflation is declining, yet fiscal risks persist. Global uncertainty—with trade and financial tensions—adds pressure. Moderate growth is forecast for 2025 and 2026.