The central bank of Colombia cut its benchmark interest rate by 25 bps to a record low of 2.25 percent during its 31 July 2020 meeting, as widely expected. The move follows a 25-bp cut in June and 100 bps in May and April, as the coronavirus crisis intensifies. Policymakers noted that the annual inflation fell to 2.19 percent in June from 2.85 percent in Mayl. They also underscored that inflation expectations continued to decline and stood below 3% as a reflection of a weak aggregate demand. The Committee added that the risk balance suggests the convenience of providing an additional boost to the economy. The decision was unanimous following a split vote in the June meeting.
Interest Rate in Colombia averaged 8.70 percent from 1998 until 2020, reaching an all time high of 32 percent in May of 1998 and a record low of 2.25 percent in July of 2020. This page provides the latest reported value for - Colombia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Colombia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Banco de la República de Colombia
Interest Rate in Colombia is expected to be 2.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Colombia to stand at 2.50 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 2.75 percent in 2021 and 3.50 percent in 2022, according to our econometric models.