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AM Best Revises Outlook To Negative On Colombia’s Insurance Industry

AM Best has revised its market segment outlook to negative from stable on Colombia’s insurance industry, owing mainly to the COVID-19 pandemic and the resulting economic damage, which will strain the segment considerably. A new Best’s Market Segment Report, titled, “Market...
Posted On June 8, 2020
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Colombia’s Central Bank Holds Urgent Meeting To Review Deteriorating Global Economy: Coronavirus, Saudi-Russian Oil Price War, Falling Currency

Colombia's Central Bank, Finance Ministry, and Financial Regulator met today to discuss the rapidly deteriorating global financial situation fueled by coronavirus, outbreak of petroleum price war, and a falling currency value.
Posted On March 9, 2020
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Arturo José Galindo Andrade Appointed Co-Director Of Colombia’s Central Bank

Colombia’s President Iván Duque Márquez announced yesterday, from his Twitter account, the appointment of University of Los Andes economist Arturo José Galindo Andrade as the new co-director of the Banco de la República, Colombia’s Central Bank, replacing José Antonio Ocampo. “I...
Posted On December 28, 2019
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Food Pushed Inflation To 3.42% In June, Says Bancolombia

According to analysis provided by Bancolombia, Colombia’s consumer price index recorded a monthly increase of 0.27%, coming in at 6 basis points higher than the 0.21% expected by economic analysts. The inflation rate is higher than that of the past decade, 0.23% Costs of produce...
Posted On July 30, 2019
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JUAN JOSE ECHAVARRIA central bank colombia banco de la republica interest rate inflation
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Colombian Central Bank Holds Auction to Accumulate International Reserves

The put options will be in force from December 4-28, according to the Bogotá-based Banco de la República. 
Posted On December 3, 2018
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Colombian Central Bank Sticks to 3% Inflation Target Rate

In mid-November, the Banco de la República forecasted inflation to end both 2018 and 2019 at 3.3%.
Posted On December 2, 2018
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Colombian Central Bank Holds Key Interest Rate Steady at 4.25%

Banco de la República has now held the rate steady since cutting it by 25 basis points to 4.25% at its April meeting.
Posted On September 29, 2018
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Colombian Inflation Rate Falls to Four-Year Low of 3.12% in July

Compared to June, the consumer price index fell by 0.13% — significantly below the consensus forecast.
Posted On August 9, 2018
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Colombian Central Bank Leaves Benchmark Interest Rate Unchanged at 4.25%

The decision to maintain the current rate was approved unanimously by all seven members of the board of the Banco de la República.
Posted On July 27, 2018
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Fitch Ratings Affirms Colombia’s BBB Credit Rating with a Stable Outlook

Though the rating is unchanged from the New York agency’s previous assessment, the status quo represents positive news for a country where economic growth has slowed.
Posted On May 9, 2018
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