The central bank of Colombia left the benchmark interest rate unchanged at 4.25 percent on April 26th 2019, as widely expected. Policymakers noted no significant changes regarding inflation expectations and also mentioned that global growth prospects declined since the previous meeting. The Committee also reiterated a 3.5 percent domestic growth forecast for 2019. The annual inflation rate in Colombia increased to 3.21 percent in March 2019 from 3.01 percent in the prior month and above market expectations of 3.17 percent. Interest Rate in Colombia averaged 8.73 percent from 1998 until 2019, reaching an all time high of 32 percent in May of 1998 and a record low of 3 percent in May of 2010.
Interest Rate in Colombia is expected to be 4.25 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 4.50 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.