ContextRemarks in Cartagena at the 20th panel on constitutional jurisdiction, hosted with Colombia's Constitutional Court; the Banco de la República keeps inflation low and defends its legal independence.
Why it mattersThe governor argues that legal autonomy protects low inflation from short-term political pressure for easier money.
Problems raised
Monetary policy faces hard trade-offs between inflation and jobs.
Short-term pressure favours expansionary policy.
Central bank autonomy must be defended.
Solutions proposed
Keep the constitutional autonomy of the central bank.
