The central bank of Colombia unanimously decided to keep its benchmark interest rate steady at 4.25 percent during its 20 December 2019 meeting, as widely expected. Policymakers noted that the annual inflation rate reduced slightly to 3.84% in November from 3.86% and that core inflation indicators are close to 3.0%. They also kept their expectation that supply shocks will start to dilute at the end of the year and inflation will resume its convergence to the target at the beginning of 2020. The Committee affirmed its GDP growth forecasts at 3.2%, revised in September. Policymakers said that they will continue to monitor the economic activity and inflation outlook, balance of payments and external conditions. The Committee also reiterated that monetary policy will depend on new data available.
Interest Rate in Colombia averaged 8.72 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. 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. source: Banco de la República de Colombia
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 4.75 percent in 2020, according to our econometric models.