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.

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Colombia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.75 2.00 32.00 1.75 1998 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-06-30 11:30 PM 2.50% 2.75% 2.50% 2.5%
2020-07-31 08:00 PM 2.25% 2.50% 2.25% 2.25%
2020-08-31 09:00 PM 2.0% 2.25% 2% 2%
2020-09-25 06:05 PM 1.75% 2.0% 1.75% 1.75%
2020-10-30 08:00 PM 1.75% 1.75%
2020-12-18 08:00 PM 1.75%


News Stream
Colombia Cuts Interest Rate to 1.75%
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.
2020-09-25
Colombia Cuts Interest Rate to 2%
The central bank of Colombia cut its benchmark interest rate by 25 bps to a record low of 2 percent during its 31 August 2020 meeting, as widely expected. The move follows two 25-bp cuts in July and June and 100 bps in May and April, as the coronavirus crisis intensifies. Policymakers noted that the annual inflation fell to 1.97 percent in July from 2.19 percent in June. They also underscored that inflation expectations continued to decline and stood below 3% as a reflection of a weak aggregate demand and spare capacity. The Committee added that the risk balance suggests the convenience of providing an additional boost to the economy. The decision was unanimous for the second straight meeting.
2020-08-31
Colombia Cuts Interest Rate to 2.25%
The central bank of Colombia cut its benchmark interest rate by 25 bps to a record low of 2.25 percent during its 31 July 2020 meeting, as widely expected. The move follows a 25-bp cut in June and 100 bps in May and April, as the coronavirus crisis intensifies. Policymakers noted that the annual inflation fell to 2.19 percent in June from 2.85 percent in Mayl. They also underscored that inflation expectations continued to decline and stood below 3% as a reflection of a weak aggregate demand. The Committee added that the risk balance suggests the convenience of providing an additional boost to the economy. The decision was unanimous following a split vote in the June meeting.
2020-07-31
Colombia Cuts Interest Rate to Record Low 2.50%
The central bank of Colombia cut its benchmark interest rate by 25 bps to a record low of 2.50 percent during its 30 June 2020 meeting, as widely expected. The move follows tandem 50-bp cuts in May and April, amid the coronavirus crisis. Policymakers noted that the annual inflation fell to 2.85 percent in May from 3.51 percent in April. They also underscored that inflation expectations continued to decline and stood below 3% as a reflection of a weak aggregate demand. The Committee added that the risk balance suggests the convenience of providing an additional boost to the economy. The decision was not unanimous, with 5 members voting for the cut.
2020-06-30

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).