Colombia
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more
Latin America’s escape from hyperinflation
Adoption of inflation targeting, flexible exchange rates and prudent fiscal policies in Brazil, Chile, Colombia, Mexico and Peru ended decades of runaway inflation
Import-intensive sectors see higher exchange rate pass-through
Changes in Colombian peso exchange rate against dollar have small effect on exports
Colombian central bank suspends reserves accumulation
Board wants to assess the impact higher reserves may have on the peso’s exchange rate
Can central bankers turn finance green?
The Network for Greening the Financial System aims to bring about fundamental change. The central bankers who created it made a strong start but face serious challenges.
BIS paper studies high-frequency data on central bank intervention
Sterilised foreign exchange interventions can help to slow credit growth, authors find
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Colombian central bank aims to build up foreign exchange reserves
Central bank prepares for potential reduction of IMF credit line
Juan José Echavarría on Colombia’s path to sounder monetary and economic policy
The governor of the Central Bank of Colombia talks about policy efforts to promote stability, the importance of independent institutions and the implications of Venezuela’s economic collapse
Colombian governor sceptical about Venezuelan petro
Juan José Echavarría reflects on collapse of neighbouring economy in interview with Central Banking
People: Bank of Spain governor nominates new deputy
Governor nominates first female candidate to deputy role; central banks in Colombia and Seychelles get new board members; IMF appoints new legal head
Colombia holds rate on uncertain economic outlook
Higher oil prices are contributing to solid growth, but are beyond the central bank’s control
Regulators using blockchain for KYC data sharing
Central Bank of Colombia and Federal Reserve Bank of Boston collaborate with R3 on KYC pilot
Colombia still has room to cut rates if recovery falters – IMF
Fund praises monetary policy regime as factor anchoring inflation expectations
IMF recommends Colombia improve policy communication
Fund considers the central bank has further room to lower interest rates
Colombia signals end to easing cycle
Despite stronger than expected inflation, board cuts interest rates by 25bp to 4.5%; US policy normalisation and elections could put pressure on the peso in 2018
Colombian banking sector not at risk despite homogeneity – paper
Economist examines diversity of Colombian banking sector and notes “distance” between banks is low; lending and funding portfolios are most similar, author says
IMF paper explores sustainability of price rises in Colombia
House prices have increased more than 110% in real terms in major cities, but houses are just 13% overvalued
Bank of Colombia forecasts stronger growth as oil shock fades
The central bank expects higher GDP growth in 2018, as inflation remains within target and the peso’s exchange rate with the dollar stays stable
Bank of Colombia paper charts fiscal multipliers in developing countries
Stronger fiscal-monetary co-ordination in developing economies during periods of expansion would extract more value from stimulus; fiscal multipliers higher in fixed exchange rate regimes
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused macroeconomic imbalances for Colombia, central bank governor says; effects are now showing signs of abating
BIS paper says macro-pru is better when partnered with monetary policy
Macro-pru does not work as well when it acts as a substitute for monetary policy when dampening credit cycles; when deployed as the main instrument, policies prove very successful even in the short term
Staff incentive schemes lead to bad deals for consumers – paper
Colombian paper examines the effect of bank incentive schemes on consumers; transparency index reveals staff often do not disclose information about the price of financial products