Banco de Colombia

In Colombia since 1923 the "Banco Central de Colombia" is an autonomous institution of the state. It is run by a board of directors and a president. The Bank manages the country's monetary policy. Through monetary policies the government seeks to stimulate full employment and price stability. The Central Bank fulfills these roles to deposit funds in the nation and public entities under the conditions established by the Board.The monetary policy decisions are made based on analysis of the current state and prospects of the economy.

"Monetary policy in Colombia is governed by an inflation targeting scheme whose purpose is to maintain a low and stable rate of inflation, and achieve output growth in employment"

Banco De Colombia. N.p., n.d. Web. 3 Apr. 2014.http://www.banrep.gov.co/es/politica-monetaria