Colombia’s central bank raised its benchmark rate by 100bps to 10.0% from 9.0% on September 29. Analysts had anticipated a rate hike of 125 or 150 bps due to continued inflationary pressures in Colombia, including high inflation expectations, high levels of economic activity, and sustained growth. Additionally, Colombia’s wide current account deficit shows an excess in domestic demand and a heavy reliance on external financing, which is at risk due to global economic tightening. source: Banco de la República de Colombia

Interest Rate in Colombia averaged 8.65 percent from 1998 until 2022, 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 October of 2022.

Interest Rate in Colombia is expected to be 11.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia Interest Rate is projected to trend around 7.50 percent in 2023 and 5.50 percent in 2024, according to our econometric models.

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Colombia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-30 06:00 PM Interest Rate Decision 7.5% 6% 7.5% 7%
2022-07-29 06:00 PM Interest Rate Decision 9% 7.5% 9% 9%
2022-09-29 07:00 PM Interest Rate Decision 10% 9% 10.25% 9.5%
2022-10-28 06:00 PM Interest Rate Decision 10% 10.5%
2022-11-01 11:00 PM Monetary Policy Minutes
2022-12-16 06:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Interest Rate 10.00 9.00 percent Sep 2022
Money Supply M1 184080.70 182294.79 COP Billion Aug 2022
Money Supply M0 105722.83 106624.89 COP Billion Aug 2022
Money Supply M3 729561.79 728322.19 COP Billion Aug 2022
Foreign Exchange Reserves 56999.50 57349.41 USD Million Aug 2022
Money Supply M2 678483.49 672434.76 COP Billion Aug 2022

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). The Colombian Peso weakened by nearly 1% against the dollar on the news.
Actual Previous Highest Lowest Dates Unit Frequency
10.00 9.00 32.00 1.75 1998 - 2022 percent Daily

News Stream
Colombia Raises Rates by 100bps, Below Expectations
Colombia’s central bank raised its benchmark rate by 100bps to 10.0% from 9.0% on September 29. Analysts had anticipated a rate hike of 125 or 150 bps due to continued inflationary pressures in Colombia, including high inflation expectations, high levels of economic activity, and sustained growth. Additionally, Colombia’s wide current account deficit shows an excess in domestic demand and a heavy reliance on external financing, which is at risk due to global economic tightening. The Colombian Peso weakened by nearly 1% against the dollar on the news.
2022-09-29
Colombia Hikes Interest Rate to 9% as Expected
The board of the central bank of Colombia unanimously decided to hike its benchmark interest rate 150 basis points to 9 % at the July 29th meeting, as expected. The move marked the eighth rate-hike since the monetary board started he policy normalization process in September 2021, pushing the borrowing costs to the highest level since February of 2009. The central bank remained committed to rein in inflation expectations, after the headline inflation rate remained above 9% in May, well above the central bank’s 3% target. Policymakers also noted that excess demand remains, with economic activity continuing strong and hence revised upwards the growth forecast for 2022 to 6.9% from 6.3%.
2022-07-29
Colombia Hikes Interest Rate as Expected
The board of the central bank of Colombia unanimously decided to hike its benchmark interest rate 150 basis points to 7.50% at the June 30th meeting, as expected. The move marked the seventh rate hike since the gradual tightening of conditions began in September 2021, bringing borrowing costs to the highest level since December of 2016. The central bank remained committed to rein in inflation expectations, after the headline inflation rate remained above 9% in May, well above the central bank’s 3% target. The central bank also noted that the economy performed better than expected in the first quarter, on the back of robust internal demand, and has revised full-year growth forecasts to 6.3%, up from a prior projection of 5.0%.
2022-06-30