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April 29, 2022

Colombia | Banrep raised its monetary policy interest rate by 100 bps

At its April meeting, Banco de la República increased the monetary policy rate by 100 bps, bringing it to 6.0%. The vote was split, with 4 members in favor of a 100 bp increase and 3 members in favor of a 150 bp increase.

April 29, 2022

Colombia | Raising rates is unpopular but necessary

Banco de la República increased its intervention rate by 100 bp at its last meeting. On the one hand, analysts expected an increase of 150 bp, while businessmen expected more moderate adjustments. Going forward, further rate increases are expected to counteract the high inflation levels.

April 1, 2022

Colombia | Banco de la República raised its monetary policy rate by 100 bp to 5.0%

The Board of Directors of Banco de la República increased its monetary policy rate by 100 bp, from 4% to 5%. The vote was split, with 5 members in favor of a 100 bp increase and 2 in favor of 150 bp. The decision was mainly based on the high levels of inflation in the country.

January 29, 2022

Colombia | BanRep raised its monetary policy rate by 100 bp.

At its January meeting, the Bank of the Republic increased the monetary policy rate by 100 bps, raising it to 4.0%. The vote was split, with 5 members in favor of a 100 bp increase and 2 members in favor of 75 bp.

December 3, 2021

Climate Objectives in Central Banks’ Funding Operations: how close to Green TLTROs?

Refinancing operations are a core monetary policy tool to provide liquidity for credit institutions. Recently, some central banks, such as the Bank of Japan (BoJ), have started to align their objectives with the goal of a transition to a low-carbon economy, linking its monetary policy to climate change objectives

October 28, 2021

ECB stands ground against early lift-off, stresses temporality of inflation

The ECB deliberated substantially on two key topical issues concerning markets - 1) the central bank’s view on the drivers and durability of ongoing inflation pressures and 2) the disconnect between ECB’s forward guidance on rates and the market’s timeframe for a lift-off.

October 18, 2021

China | All you need to know about the Central Bank Digital Currency e-CNY

We analyze the motivations of the PBoC to promote CBDC, how we define it and how it is going to operate. We also discuss some special characteristics of e-CNY and its potential risks on financial stability etc.

September 9, 2021

ECB sets stage for crucial December decision on bond purchases and other measures

As expected, the ECB announced a moderate slower pace of net asset purchases under the PEPP for next quarter, as compared to that in the previous two quarters. The decision was taken by unanimity by the Governing council on the back of favourable financing conditions and slightly better inflation outlook