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The Big Data Consumption and Investment Indicators anticipate that domestic demand would have recovered in the first quarter of the year and would have maintained the pace at the beginning of the second quarter (April).

In March, the national unemployment rate was 11.3%, up from 10.0% a year ago. Seasonally adjusted, the national unemployment rate continued its upward trend in March. Employment fell by 0.7% year-over-year, so that job creation continued its downward trend.

Poverty was reduced in Colombia last year. In 2023, 338 thousand people were lifted out of multidimensional poverty, bringing poverty from 12.9% of the population in 2022 to 12.1% in 2023. And it was reduced mainly in the countryside. Informali…

The consumer price index contracted 0.05% MoM in April. The result for the month is explained by supply and seasonal factors. The year-on-year rate was 2.4% (3.0% in March) within the Central Bank's target range.

Banrep Board maintains March's pace of cuts, with a 50bp reduction in April, accumulating a total of 150bp since it started its downward rate cycle in December 2023. The decision was split, with 5 members in favor of the 50bp reduction, one mem…

Credit expansion has consolidated several months of timid growth and decreases, explained by supply and demand factors. Strengthening the payment capacity of households and companies, in a scenario of accelerating economic activity, will be key to reactivate the demand for credit.

Inflation continues to fall, but rents are acting as a silent enemy, putting upward pressure on the basket of services, with monthly variations reaching 15-year highs. What is behind these rises and how long will they last?

GDP grew 2.8% YoY in February. This result was influenced by the additional day of activity due to the fact that 2024 is a leap year and the low YoY comparison base. The growth of the mining sector and some sectors of non-primary GDP stood out.

Authorizing a new withdrawal (the seventh) of pension funds is a bad idea: it benefits high-income members, will induce higher rates and will leave millions without any support to cope with old age.

Banco de la República has reduced its policy rate by one percentage point since November 2023. This brings the rate to 12.25%, still a high level, especially considering that March inflation stood at 7.4% and the most recent activity figures po…

In its April decision, the Board of the Central Bank decided to cut the reference rate by 25 basis points to 6.00%. However, the monetary policy stance, understood as the real ex-ante reference rate, remains in restrictive territory.

In March, monthly inflation was 0.70% and annual inflation was 7.4%, a reduction of around 37 bps compared to February. The result was slightly above market analysts' expectations, who according to the Banco de la República's survey expected a monthly variation of 0.64%.