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.

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Colombia Interest Rate

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


Calendar GMT Actual Previous Consensus TEForecast
2020-09-25 06:05 PM 1.75% 2.0% 1.75% 1.75%
2020-10-30 06:05 PM 1.75% 1.75% 1.75% 1.75%
2020-11-27 06:00 PM 1.75% 1.75% 1.75% 1.75%
2020-12-18 06:05 PM 1.75% 1.75% 1.75% 1.75%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Colombia Holds Interest Rate at 1.75%
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.
2020-12-18
Central Bank of Colombia Leaves Monetary Policy Unchanged
The central bank of Colombia left its key interest rate steady at a record low of 1.75 percent on November 27th 2020, in line with market forecasts. Policymakers said recent indicators showed economic activity is recovering as expected and is expected to continue in 2021. Inflation in October fell to 1.75 percent from 1.97 percent in September and the outlook for 2021-2023 remains anchored at 3 percent.
2020-11-27
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 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).