Colombia Interest Rate

Last Release

Mar 22, 2024

Actual

12.25

Units In

12.75

Frequency

Daily

Next Release

Apr 30, 2024

Time to Release

1 Months 6 Days 17 Hours

Highest	Lowest	Average	Date Range	Source
32 May 1998	1.75 Sep 2020	8.68 %	1998-2024	N/A

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).

Latest Updates

The central bank of Colombia lowered its benchmark interest rate to 12.25% in its March meeting, in line with the anticipated 50 bps cut. This marked the third rate reduction after the board paused rates for four consecutive meetings. In February, total inflation dropped to 7.7%, down by 1.5 percentage points from January, while inflation excluding food and regulated items fell to 7.3%. Analysts' inflation expectations decreased from 5.7% to 4.7% in the median sample, and from 3.8% to 3.5% in one and two years. The technical team revised down the inflation forecast for late 2024 to 5.4%. They also project a 1.1% growth in 2024, up from the previous 0.8% forecast. Domestic demand contracted by 3.8% in 2023, reducing the current account deficit to 2.7% of GDP. The Board's decision today accelerates interest rate reduction to guide inflation to its target by mid-2025, pending new information.