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    May 9, 2025

    Colombia | Non-Wage Employment, Major Driver of National Employment

    National employment grows, mainly driven by non-wage employment (+8% annually in March). Of 1.1M jobs created, most are independent and informal, raising the informality rate to 57.2%. The challenge is to formalize this employment to improve conditions and reduce poverty.

    May 9, 2025

    Colombia | Annual inflation surprised on the upside in April, reaching 5.2%

    Annual inflation in April surprises on the upside (5.2%), driven by regulated items and goods. Core inflation (excluding food) also increases. Doubts persist regarding the speed of future moderation. This result may lead to upward revisions of forecasts and uncertainty about the future monetary policy stance.

    May 9, 2025

    Peru | BCRP cuts policy rate by 25 bps, bringing it close to its neutral level

    At its May meeting, the Board of the Central Bank lowered the reference interest rate to 4.50%. The monetary policy stance, understood as the ex-ante real reference rate, thus stands close to the level estimated to be neutral.

    May 7, 2025

    Peru | Tracking consumption with real-time data in April 2025

    The Big Data Private Consumption Index recorded a yoy growth of 11.6% in April, surpassing both the March figure (10.9%) and the result for the first quarter as a whole (Q1 2025: 8.7%).

    May 2, 2025

    Peru|Year-on-year inflation rose in April, but remains comfortably within the target range

    In April 2025, the Consumer Price Index (CPI) rose by 0.32%, exceeding expectations. The increase was driven by seasonal factors related to Easter, which pushed up the prices of fishery products and transportation services. Poultry prices also rose again. In contrast, fuel prices declined.

    April 30, 2025

    Colombia | BanRep reduces 25bps its policy rate, unanimously, to 9.25%

    The Board of Banrep reduced the monetary policy rate by 25bp to 9.25% in April. This decision was unanimous. On this occasion, they highlighted that inflation and inflation expectations derived from the debt markets declined.

    April 29, 2025

    Colombia | Real Estate Outlook. 2025

    BBVA Research presents its new real estate sector report in two presentations: the first analyzes sales, supply, prices, rentals, and demographics; the second focuses on the structure of construction, financing, and sustainability. It includes sales projections, drivers, and trends through 2026.

    April 25, 2025

    Colombia | Timeliness and clarity of tax messages

    Colombia aims to cut its fiscal deficit to 5.1% of GDP in 2025, but success depends on swift institutional reforms, clear spending plans, and transparent financing. In a volatile global context, timely and credible messages are key to maintaining investor confidence.

    April 11, 2025

    Peru | Central Bank will maintain pause in the short term

    In its April meeting, the Board of the Central Bank decided to keep the policy rate at 4.75%. The monetary policy stance, understood as the real ex-ante reference rate, remains slightly above neutral.

    April 8, 2025

    Colombia | Inflation Ends 4-Month Stable Streak, Settles at 5.1% in March.

    In March 2025 Colombia's total inflation decreased to an annual rate of 5.1% breaking a four-month period of stability or slight increase. This moderation was primarily driven by a decline in non-food inflation, particularly due to the regulated basket. March monthly inflation was 0.52% falling below analysts' expectations.