Publications

For the fifth consecutive meeting, BanRep held the policy rate steady at 9.25% in a split decision. Although inflation eased in November, it remains above the target, in a context of dynamic domestic demand supported by high consumption.

Between 2025 and 2027, GDP will be driven by domestic demand: resilient household consumption, supportive public spending and investment boosted by a healthier construction sector. Persistently high inflation, cautious monetary policy and a wide fiscal deficit weigh on the outlook.

The Bank of the Republic maintained its benchmark interest rate at 9.25% in a divided decision by its Board, reflecting its cautious stance amid persistent inflation and fiscal risks. The institution also announced the cancellation of the Flexible Credit Line with the IMF.

The Bank of the Republic will maintain stable interest rates through the remainder of 2025, with gradual reductions in the second half of 2026. This cautious approach responds to persistent inflation, strong consumption dynamics, and fiscal risks.

The Board of Banrep reduced the monetary policy rate by 25bp to 9.25% in April. This decision was unanimous. On this occasion, they highlighted that inflation and inflation expectations derived from the debt markets declined.

The Banco de la República kept its interest rate unchanged in March, in a context of mixed variables surrounding the decision. In the end, the Bank prioritized economic stability, offering a significant demonstration of independence and technical expertise.

Diverging monetary policy between China and the US remains after Trump’s victory, leading to a longer time China-US policy rate reversion.