Con la inflación no se juega

diciembre 27, 2025

TL;DR

The Banco de la República is balancing economic dynamism with inflationary risk.
November's inflation was 5.3%, exceeding the 3% target, with future expectations also drifting away.
A majority of directors see monetary policy as less restrictive due to inflation and expectations, coupled with strong domestic demand.
Fiscal risks, including a growing deficit and rising external debt costs, add to the challenge.
The consensus is to raise interest rates sooner rather than later to avoid prolonged high rates.
Monetary policy needs coordination with fiscal and regulatory efforts to address inflation beyond interest rate adjustments.
Persistent inflation negatively impacts purchasing power, savings, and disproportionately affects vulnerable populations.
Raising interest rates aims to curb inflation at the cost of more expensive credit and reduced investment.
The economy shows mixed signals with higher-than-expected growth but deepening imbalances like external deficits.
Fiscal policy remains expansive, with a need for a clear deficit reduction plan to ease price pressures.
An integrated strategy involving fiscal discipline and reforms for investment and productivity is crucial for long-term growth and economic stability.

Continuar leyendo el artículo original