The board of the central bank of Colombia unanimously decided to hike its benchmark interest rate 150 basis points to 9 % at the July 29th meeting, as expected. The move marked the eighth rate-hike since the monetary board started he policy normalization process in September 2021, pushing the borrowing costs to the highest level since February of 2009. The central bank remained committed to rein in inflation expectations, after the headline inflation rate remained above 9% in May, well above the central bank’s 3% target. Policymakers also noted that excess demand remains, with economic activity continuing strong and hence revised upwards the growth forecast for 2022 to 6.9% from 6.3%. source: Banco de la República de Colombia

Interest Rate in Colombia averaged 8.65 percent from 1998 until 2022, 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 August of 2022.

Interest Rate in Colombia is expected to be 9.50 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 7.50 percent in 2023 and 5.50 percent in 2024, according to our econometric models.

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Colombia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-29 06:00 PM Interest Rate Decision 6% 4% 6% 7%
2022-06-30 06:00 PM Interest Rate Decision 7.5% 6% 7.5% 7%
2022-07-29 06:00 PM Interest Rate Decision 9% 7.5% 9% 9%
2022-09-30 06:00 PM Interest Rate Decision
2022-10-04 11:00 PM Monetary Policy Minutes
2022-10-28 06:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Interest Rate 9.00 7.50 percent Jul 2022
Money Supply M1 182294.79 182340.57 COP Billion Jul 2022
Money Supply M0 106624.89 106439.66 COP Billion Jul 2022
Money Supply M3 721465.65 703955.89 COP Billion Jun 2022
Foreign Exchange Reserves 57349.41 57164.46 USD Million Jul 2022
Money Supply M2 666490.15 648257.53 COP Billion Jun 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
9.00 7.50 32.00 1.75 1998 - 2022 percent Daily

News Stream
Colombia Hikes Interest Rate to 9% as Expected
The board of the central bank of Colombia unanimously decided to hike its benchmark interest rate 150 basis points to 9 % at the July 29th meeting, as expected. The move marked the eighth rate-hike since the monetary board started he policy normalization process in September 2021, pushing the borrowing costs to the highest level since February of 2009. The central bank remained committed to rein in inflation expectations, after the headline inflation rate remained above 9% in May, well above the central bank’s 3% target. Policymakers also noted that excess demand remains, with economic activity continuing strong and hence revised upwards the growth forecast for 2022 to 6.9% from 6.3%.
2022-07-29
Colombia Hikes Interest Rate as Expected
The board of the central bank of Colombia unanimously decided to hike its benchmark interest rate 150 basis points to 7.50% at the June 30th meeting, as expected. The move marked the seventh rate hike since the gradual tightening of conditions began in September 2021, bringing borrowing costs to the highest level since December of 2016. The central bank remained committed to rein in inflation expectations, after the headline inflation rate remained above 9% in May, well above the central bank’s 3% target. The central bank also noted that the economy performed better than expected in the first quarter, on the back of robust internal demand, and has revised full-year growth forecasts to 6.3%, up from a prior projection of 5.0%.
2022-06-30
Colombia Hikes Interest Rate to 6%
The central bank of Colombia raised its benchmark interest rate by another 100bps to 6% in its April 29th meeting, in line with market expectations. The move marked the sixth rate hike since the gradual tightening of conditions began in September 2021, bringing borrowing costs to the highest level since May of 2017. The decision was driven by persistently high price pressures and uncertainty around the international outlook. The annual inflation rate in Colombia accelerated to a six-year high of 8.5% in March, almost triple the 3% target laid out by the central bank. Inflation is expected to fall during the rest of the year and end around 7% in 2022, but is not expected to return to the target within the next two years. Meanwhile, the economy is now seen expanding by 5%, above an earlier estimate of 4.7%. The board meeting is the last before the presidential election in May, with a leftist candidate who has repeatedly criticized the central bank tightening stance, leading the polls.
2022-04-29