The central bank of Colombia decided to cut its benchmark interest rate by 50 bps to a record low of 2.75 percent during its May 29th 2020 meeting, as widely expected. The move follows a similar margin cut on April 30th, amid the coronavirus crisis. Policymakers noted that the annual inflation fell to 3.5 percent in April from 3.9 percent in March, and it is expected to continue to slow due to weak demand, spare production capacity and labour market deterioration. 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 and the rest for a 25-bp reduction.

Interest Rate in Colombia averaged 8.70 percent from 1998 until 2020, reaching an all time high of 32 percent in May of 1998 and a record low of 2.75 percent in May 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 June of 2020. source: Banco de la República de Colombia

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. Looking forward, we estimate Interest Rate in Colombia to stand at 3.00 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 3.75 percent in 2021 and 4.25 percent in 2022, according to our econometric models.

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Colombia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.75 3.25 32.00 2.75 1998 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-01-31 08:00 PM 4.25% 4.25% 4.25% 4.25%
2020-03-27 07:00 PM 3.75% 4.25% 4.25% 4.25%
2020-04-30 06:15 PM 3.25% 3.75% 3.25%
2020-05-29 11:00 PM 2.75% 3.25% 2.75% 2.75%
2020-06-26 08:00 PM 2.75% 2.75%
2020-07-31 08:00 PM 2.75%
2020-09-25 08:00 PM 2.75%
2020-10-30 08:00 PM 2.75%


News Stream
Colombia Cuts Interest Rate to Fresh All-time Low of 2.75%
The central bank of Colombia decided to cut its benchmark interest rate by 50 bps to a record low of 2.75 percent during its May 29th 2020 meeting, as widely expected. The move follows a similar margin cut on April 30th, amid the coronavirus crisis. Policymakers noted that the annual inflation fell to 3.5 percent in April from 3.9 percent in March, and it is expected to continue to slow due to weak demand, spare production capacity and labour market deterioration. 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 and the rest for a 25-bp reduction.
2020-05-29
Colombia Cuts Interest Rate to 6-Year Low
The central bank of Colombia unanimously decided to cut its benchmark interest rate by 50 bps to 3.25 percent during its 30 April 2020 meeting, to boost the semi-paralyzed economy during a nationwide coronavirus quarantine. Interest rates are now at the lowest level since 2014.
2020-04-30
Colombia Cuts Interest Rate to 3.75%
The central bank of Colombia unanimously decided to cut its benchmark interest rate by 50 bps to 3.75 percent during its 27 March 2020 meeting, as widely expected. Policymakers also announced further liquidity measures, including repo purchases and USD auctions for up to $1 billion and USD swaps for up to $400 million. Policymakers warned that economic conditions have rapidly deteriorated in the world due to the coronavirus outbreak, while reiterating that the domestic inflation rate stood at 3.72 percent in February. Policymakers said that they will continue to monitor the economic activity, inflation outlook, balance of payments and external conditions, particularly, the effects of the recent declaration of international health emergency. The Committee also reiterated that monetary policy will depend on new data available.
2020-03-27
Colombia Holds Interest Rate at 4.25%
The central bank of Colombia unanimously decided to keep its benchmark interest rate steady at 4.25 percent during its January 31st 2020 meeting, as widely expected. Policymakers noted that the annual inflation rate dropped to 3.80 percent in December from 3.84 percent in the prior month and was the lowest inflation rate since August, while core inflation indicators are close to 3.0 percent. The Committee also expect that inflation will resume its convergence to the target at the beginning of 2020 and kept its estimate for economic growth at 3.2 percent for 2019 and 3.3 percent for 2020. Policymakers said that they will continue to monitor the economic activity, inflation outlook, balance of payments and external conditions, particularly, the effects of the recent declaration of international health emergency. The Committee also reiterated that monetary policy will depend on new data available.
2020-01-31

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).