The central bank of Colombia raised its benchmark interest rate by 25 basis points to 2% on September 30th, as expected. It was the first rate hike since June 2016 as it seeks to control inflation. In August, the annual inflation rate climbed 4.44%, the highest since April of 2017. Meantime, the central bank increased its gross domestic product forecast to 8.6% from 7.5% previously and inflation predictions for the year to 4.5% from 4.1% previously. source: Banco de la República de Colombia
Interest Rate in Colombia averaged 8.66 percent from 1998 until 2021, reaching an all time high of 32 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 2021.
Interest Rate in Colombia is expected to be 2.00 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 3.00 percent in 2022 and 3.50 percent in 2023, according to our econometric models.