The orientation of monetary policy  Before I go on to interpret this data and to explain how we responded, let me remind you of the objective of monetary policy in Colombia. We aim to achieve low and stable inflation.
I can be forgiven for believing that smallness is no longer a liability. Quite the contrary: it can be a source of added adaptive advantage. It gives our policymakers a quick-response capacity and the flexibility to change gear quite rapidly to adapt to the constantly-changing environment that has become the new normal.