The central bank of Colombia left its key interest rate steady at a record low of 1.75 percent on January 29th of 2021, as widely expected. The decision was backed by five of the seven board members. Policymakers noted that inflation was at 1.6 percent in 2020, well below the 3% central bank’s target. The Committee expects inflation to remain at low levels during the first quarter and a subsequent acceleration during the rest of the year. Also, the central bank continues to forecast the annual inflation rate at 2.7 percent by the end of 2021 and at 3 percent by the end of 2022. source: Banco de la República de Colombia
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 February of 2021.
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 1.75 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 2.00 percent in 2021 and 2.75 percent in 2022, according to our econometric models.