Colombia’s central bank unexpectedly raised its policy rate by 25 basis points to 12.25% on its September meeting, the highest level since early 2024, as it seeks to bring inflation back toward target after years of above-target price growth. Four policymakers backed the increase, while two voted to hold and one favored a larger 50-basis-point hike. Annual inflation accelerated to 6.24% in August and is expected to remain above the upper end of the central bank’s 2%-4% target range through 2026 and 2027. The board said the decision maintained a restrictive monetary policy consistent with a declining inflation path in 2027. Meanwhile, recent data pointed to weaker economic activity, with urban unemployment rising to 9.1% in August and economic activity, manufacturing and retail sales falling short of forecasts in July. The decision came amid concerns over the country’s fiscal outlook, with the government facing a widening budget deficit and seeking discussions with the IMF. source: Banco de la República de Colombia

The benchmark interest rate in Colombia was last recorded at 12.25 percent. Interest Rate in Colombia averaged 8.70 percent from 1998 until 2026, reaching an all time high of 32.00 percent in May of 1998 and a record low of 1.75 percent in September 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 October of 2026.

The benchmark interest rate in Colombia was last recorded at 12.25 percent. Interest Rate in Colombia is expected to be 12.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia Interest Rate is projected to trend around 12.00 percent in 2027 and 10.75 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-30 06:00 PM Interest Rate Decision 12% 11.25% 11.75% 11.75%
2026-07-31 06:50 PM Interest Rate Decision 12% 12% 12.5% 12.5%
2026-09-30 07:00 PM Interest Rate Decision 12.25% 12% 12% 12%
2026-10-30 06:00 PM Interest Rate Decision 12.25% 12.25%
2026-12-18 06:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 67228.00 67816.90 USD Million Sep 2026
Interest Rate 12.25 12.00 percent Sep 2026
Money Supply M0 194406.01 193754.95 COP Billion Sep 2026
Money Supply M1 224799.28 231697.23 COP Billion Sep 2026
Money Supply M2 980180.67 980377.02 COP Billion Sep 2026
Money Supply M3 1033807.91 1031095.98 COP Billion Sep 2026


Colombia Interest Rate
In Colombia, interest rate decisions are taken by The Central Bank of Colombia (The Banco de la República). The Banco de la República implements monetary policy by changing interest rates, which either provide or withdraw liquidity from the economy. The official interest rates are the intervention interest rates (Tasas). The Colombian Peso weakened by nearly 1% against the dollar on the news.
Actual Previous Highest Lowest Dates Unit Frequency
12.25 12.00 32.00 1.75 1998 - 2026 percent Daily

News Stream
Colombia Unexpectedly Raises Key Interest Rate
Colombia’s central bank unexpectedly raised its policy rate by 25 basis points to 12.25% on its September meeting, the highest level since early 2024, as it seeks to bring inflation back toward target after years of above-target price growth. Four policymakers backed the increase, while two voted to hold and one favored a larger 50-basis-point hike. Annual inflation accelerated to 6.24% in August and is expected to remain above the upper end of the central bank’s 2%-4% target range through 2026 and 2027. The board said the decision maintained a restrictive monetary policy consistent with a declining inflation path in 2027. Meanwhile, recent data pointed to weaker economic activity, with urban unemployment rising to 9.1% in August and economic activity, manufacturing and retail sales falling short of forecasts in July. The decision came amid concerns over the country’s fiscal outlook, with the government facing a widening budget deficit and seeking discussions with the IMF.
2026-09-30
Colombia Holds Interest Rate at 12.0%
Colombia's central bank kept its benchmark interest rate unchanged at 12.0% on July 31st. The bank noted that annual inflation rose to 6.1% in June, driven by higher food and regulated prices, while core inflation held steady at 6.0%. Inflation expectations for end-2026 and 2027 increased to 6.6% and 5.0%, respectively, with market-based expectations remaining above 6.0%. The bank also noted that economic activity strengthened in the second quarter, supported by robust services sector growth, and maintained its 2026 GDP growth forecast at 2.5%. The unemployment rate fell to 8.0% in June. A stronger Colombian peso has helped ease inflationary pressures, but risks from the Middle East conflict and a potential El Niño event could fuel inflation and weigh on growth. Future policy decisions will remain data dependent.
2026-07-31
Colombia Central Bank Raises Interest Rates in June
The Central Bank of Colombia raised its benchmark interest rate by 75 basis points to 12% at its June 30 meeting, tightening policy as inflationary pressures intensified. Policymakers noted that inflation continued to accelerate, with headline inflation reaching 5.8% in May and core inflation rising to 6.0%, moving further away from the bank’s 3% target. Inflation expectations also remained elevated across all horizons despite some easing in June. Economic activity showed resilience, with GDP growth accelerating to 2.2% year-on-year in the first quarter, above the 2.0% expansion in the previous quarter, while domestic demand continued to outpace output. The labor market also remained strong, with unemployment at a historically low 8.0% in May and wages rising significantly. The board said the rate hike aims to steer inflation back onto a downward path, while future policy decisions will depend on incoming data and evolving external risks.
2026-06-30