Colombia Interest Rate

The benchmark interest rate in Colombia was last recorded at 3.25 percent. Interest Rate in Colombia is reported by the Banco de la República de Colombia. Interest Rate in Colombia averaged 8.82 Percent from 1998 until 2014, reaching an all time high of 32 Percent in May of 1998 and a record low of 3 Percent in December of 2010. In Colombia, interest rate decisions are taken by The Central Bank of Columbia (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). This page provides - Colombia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.25 3.25 32.00 3.00 3.25 | 2014/04 1998 - 2014 Percent Monthly

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Colombia Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-20 06:40 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25% 3.25%
2014-01-31 06:00 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25% 3.25%
2014-02-28 06:30 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25% 3.25%
2014-03-21 04:40 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25% 3.25%
2014-04-25 05:00 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25%
2014-05-30 05:00 PM Colombia
Interest Rate Decision
3.25%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 44298.38 2014-03-31 44026.86 44298.38 -134.90 44493.23 2014-03-31 USD Million [+]
Money Supply M0 36482.24 2014-03-31 36310.05 39223.09 44.83 35064.39 2014-04-30 COP Billion [+]
Money Supply M1 79924.06 2014-03-31 79880.05 85554.41 164.44 80294.42 2014-04-30 COP Billion [+]
Money Supply M3 347164.89 2014-03-31 347393.46 347393.46 317.55 349995.18 2014-03-31 COP Billion [+]
Interest Rate 3.25 2014-03-21 3.25 32.00 3.00 3.25 2014-04-30 Percent [+]
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Colombia Leaves Rates on Hold

At its March 21st, 2014 meeting, Central Bank of Colombia left the benchmark interest rate steady at 3.25 percent and decided to extend its dollar purchase program, and buy up to $1 billion through June.

The central bank the left borrowing cost unchanged for the twelfth straight meeting, as it considers interest rates remain at levels that stimulate aggregate spending and will hopefully allow the 2014 GDP to approach the productive capacity of the economy as inflation converges towards the 3 percent target. 

In the fourth quarter of 2013, the GDP advanced 4.9 percent over the same period last year, slightly lower than a 5.4 percent expansion in the previous quarter. For the full 2013, it was 4.3 percent, up from 4 percent in 2012. 

Annual inflation rate has been below the 3 percent target for 16 consecutive months and was recorded at 2.32 percent in February of 2014.

Joana Taborda | joana.taborda@tradingeconomics.com
3/21/2014 7:01:34 PM

RECENT RELEASES

Colombia Leaves Monetary Policy Unchanged
At its February 28th, 2014 meeting, Central Bank of Colombia decided to leave the benchmark interest rate unchanged at 3.25 percent, as widely expected, saying that interest rates remain at levels that stimulate aggregate spending. Published on 2014-02-28

Colombia Holds Interest Rate Steady
Colombia's central bank maintained its benchmark interest rate at 3.25 percent as expected as inflation continues to converge toward the bank’s 3.0 percent target and the economy is poised to pick up pace in 2014. Published on 2014-01-31


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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Colombia Leaves Rates on Hold  
At its March 21st, 2014 meeting, Central Bank of Colombia left the benchmark interest rate steady at 3.25 percent and decided to extend its dollar purchase program, and buy up to $1 billion through June.
Colombia Posts $0.7B Trade Deficit  
In the first month of 2014, Colombian trade balance turned into a USD 0.7 billion gap, down from a USD 0.34 billion surplus in the previous month. Compared with the same month last year, the trade gap narrowed 79 percent, as imports shrank at a faster pace than exports.
Colombia Leaves Monetary Policy Unchanged  
At its February 28th, 2014 meeting, Central Bank of Colombia decided to leave the benchmark interest rate unchanged at 3.25 percent, as widely expected, saying that interest rates remain at levels that stimulate aggregate spending.
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In December of 2013, Colombia’s trade balance turned into a USD 340 million surplus, up from a revised USD 100 million deficit in the previous month. A year earlier, the country recorded a USD 410 million surplus.
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Colombia's central bank maintained its benchmark interest rate at 3.25 percent as expected as inflation continues to converge toward the bank’s 3.0 percent target and the economy is poised to pick up pace in 2014.
Colombia Trade Deficit Narrows in November  
Colombia trade balance turned into a USD 100 million deficit in November of 2013, decreasing from a USD 510 million deficit in the previous month and a USD 320 million deficit a year earlier. Exports rose 2.5 percent yoy, after falling in the previous two months.
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At its December 20th meeting, Central Bank of Colombia decided by a unanimous vote to leave the benchmark interest rate unchanged at 3.25 percent, as the economy is improving.
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In October of 2013, Colombian trade balance turned into a deficit of USD 0.5 billion, from USD -0.3 billion in the previous month and a surplus of USD 0.23 billion last year. While exports recorded the second highest annual drop this year, imports from the US surged 20.5 percent.
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Colombia’s Central Bank decided on November 27th to leave the benchmark interest rate on hold at 3.25 percent for the eight straight time, as widely expected.
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In September of 2013, Colombian trade balance turned into a 0.3 USD billion deficit, from a 0.23 billion USD surplus a year earlier, as non-monetary gold sales reported a large drop, while imports were up by 10 percent.
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