The central bank of Colombia voted by a majority of 4-3 to reduce the benchmark interest rate by 25bps to a fresh record low of 1.75% during its September meeting, as expected. The move follows a 25bps cut in each of the three previous meetings and a 100bps cut in May and April, as the coronavirus crisis intensifies. Policymakers noted that the annual inflation fell to 1.88% in August from 1.97% in July. The central bank expects the Colombian economy to contract between 6% to 10% in 2020.
Interest Rate in Colombia averaged 8.69 percent from 1998 until 2020, 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 September of 2020. source: Banco de la República de Colombia
Interest Rate in Colombia is expected to be 1.75 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 2.00 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 2.50 percent in 2021 and 3.25 percent in 2022, according to our econometric models.