Banco de la República
Festival of Economies for Life begins in Bogotá
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The Festival of Economies for Life began on Saturday at the Palacio de San Carlos in Bogotá, organized by the Ministry of Education and the Progressive International. The event, running until May 4, brings together officials and economists to discuss a progressive economic model focused on industry, agriculture, and energy transition. Panels address institutional blockages and income distribution.
In its latest monthly update, Colombia's Banco de la República reported accumulated profits of $2.55 trillion through March 2026—a 43% drop from $4.43 trillion in March 2025. This continues a downward trend following February's 8.49% decline to $2.67 trillion (part of our ongoing Banco de la República Profits Reports series). Assets, equity, and reserves also fell.
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In its May 1, 2026 board meeting, Banco de la República unanimously kept the benchmark interest rate at 11.25%, surprising analysts expecting a hike to combat accelerating inflation. Finance Minister Germán Ávila participated fully, citing constructive dialogue, while board members justified the decision to maintain stability amid political pressures.
Colombia's Public Credit Directorate awarded one-year TES bonds at a cut-off rate of 13.494% in the March 24 auction, setting a new historical high. With 5.29% inflation, this yields a real rate near 8.2%. The outcome signals heightened fiscal risk perception among investors.
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GOU Payments, a Grupo Aval company, has received certification from Banco de la República to operate in the Bre-B instant payments system. The approval verifies its technological, operational, and security capabilities for 24/7 instant payments. The fintech aims to boost financial inclusion in Colombia.
Analysts agree that the Banco de la República's Board will keep the interest rate at 9.25% in its October 31, 2025 meeting. This stems from persistent inflation and fiscal risks, despite the recent US Federal Reserve rate cut. Annual inflation hit 5.18% in September, above the 3% target.