¿Cómo se ven afectados los consumidores por la variación de las tasas de interés establecidas por el banco de la república de Colombia?

Abstract

Faced with an economic phenomenon, such as inflation and its causality, which is a complex system that is made up of multiple interconnected parts that are difficult to control, given that its causes may be related to macroeconomic or microeconomic factors, or short-term events such as a war in Europe, a ship stranded in the Suez Canal that unleashed the container crisis, which generated delays in the distribution of merchandise, increased prices of raw materials and freight rates throughout the world, or a global pandemic. All these elements come together to affect the economy and for particular inflation in Colombia. All these effects are unusually foreseen by specialists, however, central banks usually react to this inflationary effect with different measures, for the individual, one of them is the increase in the minimum interest rate. The rate is the main monetary policy intervention tool used by the Colombian central bank to impact the amounts of money circulating in the economy. This measure mainly seeks the efficient use of resources, reducing the uncertainty that it can cause in investors and stimulate the flow of capital. On the other hand, it provides a stable picture with which individuals can make decisions and build businesses with confidence. It also avoids arbitrary redistribution of income that specifically impacts the low-income population, given that, due to their vulnerability, they do not have tools to counteract inflationary effects. Despite all these effects caused by the rise in interest rates by the Bank of the Republic, which seem positive, there are some negative consequences for consumers, which impact the very dynamics of the economy due to decreased access resources or, in other words, the cost of disposing of capital. The foregoing marks a path in which individuals contract consumption and generate recessive effects, on the other hand, it impacts the dynamics of credits already acquired, among others. In accordance with the above, this research has developed a thorough study of the different effects that are generated when the Bank of the Republic alters interest rates, and how these affect consumers.