The central bank of Colombia raised its benchmark interest rate by 50bps to 2.5% on October 29th, surprising markets that had forecast a 25bps rate increase. It follows a 25bps rate hike in the previous meeting as the central bank seeks to control inflation that is well above the target. In September, the annual inflation rate climbed 4.51%, the highest since April of 2017. Meantime, the central bank increased its gross domestic product forecast to 9.8% from 8.6% 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 December of 2021.

Interest Rate in Colombia is expected to be 2.75 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 3.75 percent in 2022 and 4.00 percent in 2023, according to our econometric models.

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Colombia Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-30 06:30 PM 1.75% 1.75% 1.75% 1.75%
2021-09-30 06:00 PM 2% 1.75% 2% 2%
2021-10-29 06:00 PM 2.5% 2% 2.25% 2.25%
2021-12-17 06:00 PM 2.5% 2.75%


Related Last Previous Unit Reference
Interest Rate 2.50 2.00 percent Oct/21
Money Supply M1 171887.48 168661.73 COP Billion Oct/21
Money Supply M0 96043.45 95681.63 COP Billion Oct/21
Money Supply M3 650349.74 639093.29 COP Billion Oct/21
Foreign Exchange Reserves 58823.31 58710.06 USD Million Oct/21
Money Supply M2 598674.41 587775.61 COP Billion Oct/21

News Stream
Colombia Hikes Interest Rates by 50bps
The central bank of Colombia raised its benchmark interest rate by 50bps to 2.5% on October 29th, surprising markets that had forecast a 25bps rate increase. It follows a 25bps rate hike in the previous meeting as the central bank seeks to control inflation that is well above the target. In September, the annual inflation rate climbed 4.51%, the highest since April of 2017. Meantime, the central bank increased its gross domestic product forecast to 9.8% from 8.6% previously.
2021-10-29
Colombia Rises Interest Rate to 2%
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.
2021-09-30
Colombia Holds Interest Rate at 1.75%
The central bank of Colombia decided, in a vote of six votes to one, to keep its benchmark interest rate on hold at 1.75% during its March 2021 meeting, as widely expected. Policymakers noted that the annual inflation rate eased to a 4-month low of 1.51% in March, below the central bank's target of 3%. The Committee also revised upward its GDP growth forecast from 5.2% to 6.0% this year.
2021-04-30

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).