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.


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Colombia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.25 4.25 32.00 3.00 1998 - 2019 percent Daily

Calendar GMT Actual Previous Consensus TEForecast
2019-08-30 10:30 PM 4.25% 4.25% 4.25% 4.25%
2019-09-24 12:00 AM 4.25% 4.25% 4.25% 4.25%
2019-10-31 08:00 PM 4.25% 4.25% 4.25% 4.25%
2019-12-20 08:00 PM 4.25% 4.25% 4.25% 4.25%
2020-01-31 08:00 PM 4.25% 4.25%


News Stream
2019-10-31
Colombia Leaves Interest Rate Unchanged at 4.25%
The central bank of Colombia unanimously decided to keep its benchmark interest rate steady at 4.25 percent during its 31 October 2019 meeting, as widely expected. Policymakers noted that the annual inflation rate rose modestly to 3.82% in September from 3.75% in August, and kept their expectation that supply shocks will start to dilute at the end of the year and inflation will converge to the target range. 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 the external conditions. The Committee also reiterated that monetary policy will depend on new data available.

2019-09-24
Colombia Leaves Monetary Policy Unchanged
The central bank of Colombia kept its benchmark interest rate steady at 4.25 percent during its September 23rd 2019 meeting, as widely expected. Policymakers noted that the annual inflation rate fell to 3.75% in August from 3.79% in July and it is expected that supply shocks will start to dilute at the end of the year and inflation will converge to the target range. The Committee added the better economic activity was a main reason behing the revision of GDP growth to 3.2% from 3%. Policymakers said that they will continue to monitor the economic activity and inflation outlook, balance of payments and the external conditions. The Committee also reiterated that monetary policy will depend on new data available.

2019-08-30
Colombia Holds Interest Rate at 4.25%
The central bank of Colombia left the benchmark interest rate unchanged at 4.25 percent on its August 30tb 2019 meeting, as widely expected. Policymakers unanimously voted to leave the rate unchanged for the 16th straight month. The annual inflation rate jumped to 3.79 percent in July from 3.43 percent in June to surpass market expectations of 3.71 percent and was a high since December 2017, mostly boosted by food prices.Policymakers project that other supply shocks could cause inflation to increase in the coming months, but it is expected to resume its convergence to the target range later. The Committee said that they will continue to monitor developments in the inflation rate, economic activity and balance of payments and take actions depending on new data.

2019-07-26
Colombia Leaves Monetary Policy Unchanged
The central bank of Colombia left the benchmark interest rate unchanged at 4.25 percent on its July 26th 2019 meeting, as widely expected. Policymakers unanimously voted to leave the rate unchanged for the fifteenth straight month, noting that new information suggested that economic output growth for the second quarter will likely outperform supported by investment in machinery and equipment and public consumption. The annual inflation rose to 3.43 percent in June from 3.31 in the prior month mostly boosted by cost of food and it is projected that other supply shocks could cause inflation to increase in the coming months, but it is expected to resume its convergence to the target range later. The Committee said that they will continue to monitor developments in the inflation rate, economic activity and balance of payments and take actions depending on new data.

2019-06-21
Colombia Leaves Interest Rate at 4.25%
The central bank of Colombia left the benchmark interest rate unchanged at 4.25 percent on 21 June 2019, as widely expected. Policymakers noted that economic activity for the first quarter of the year was weaker than expected. It also noted that inflation could go higher than the current 3.31 percent due to transitory supply shocks. The Committee also mentioned that the current account deficit of 4 percent of GDP is still expected to be covered by FDI.

2019-04-26
Colombia Holds Interest Rate at 4.25%
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.


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).

Colombia Money Last Previous Highest Lowest Unit
Interest Rate 4.25 4.25 32.00 3.00 percent [+]
Interbank Rate 4.26 4.26 13.50 2.94 percent [+]
Money Supply M0 74081.00 66552.34 74081.00 44.84 COP Billion [+]
Money Supply M1 128938.71 120837.24 128938.71 164.44 COP Billion [+]
Money Supply M3 544607.92 540137.33 544607.92 317.55 COP Billion [+]
Foreign Exchange Reserves 53133.90 52951.80 53133.90 -134.90 USD Million [+]
Deposit Interest Rate 4.70 6.00 37.23 3.66 percent [+]
Money Supply M2 498840.47 493116.95 498840.47 648.14 COP Billion [+]
Loans To Private Sector 89.78 89.57 1426.67 -2108.10 COP Billion [+]
Central Bank Balance Sheet 236556.30 224064.30 236556.30 17217.55 COP Billion [+]