The central bank of Colombia left its key interest rate steady at a record low of 1.75 percent on December 18th of 2020, as widely expected. The decision was backed by five of the seven board members. Policymakers noted that the annual inflation fell to 1.49 percent in November, the lowest since November of 1955. The Committee forecasts inflation to remain at low levels during the first quarter of 2021 and then to accelerate during the rest of the year. Also, the central bank projects the annual inflation rate at 2.7 percent by the end of 2021 and at 3 percent by the end of 2022. source: Banco de la República de Colombia
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 December of 2020.
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 1.75 in 12 months time. In the long-term, the Colombia Interest Rate is projected to trend around 2.00 percent in 2021 and 2.75 percent in 2022, according to our econometric models.