Colombia Interest Rate

The benchmark interest rate in Colombia was last recorded at 4 percent. Interest Rate in Colombia averaged 8.81 Percent from 1998 until 2014, reaching an all time high of 32.00 Percent in May of 1998 and a record low of 3.00 Percent in May of 2010. Interest Rate in Colombia is reported by the Banco de la República de Colombia.


Colombia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.75 32.00 3.00 1998 - 2014 Percent Monthly
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.

Central Bank of Colombia Raises Rate to 4%

At its June 20th, 2014 meeting, Central Bank of Colombia decided to increase the benchmark interest rate by 25 bps to 4 percent. It is the third consecutive rate increase, aiming to contain inflationary pressures after a better than expected GDP growth rate in the first quarter. Policymakers also decided to increase its dollar purchases to bolster reserves and weaken the peso.

Annual consumer inflation in May was higher than expected and converged faster to 3 percent. Meanwhile, inflation expectations increased compared with the previous month.

Economic growth in the first quarter came in at 6.4 percent and was higher than estimated. Also, figures for 2013 were revised upwards and available information suggests domestic demand, mainly investment, boosted growth. With this new information, increases the chance the economy will move closer to full use of its production capacity in 2014.

Under these circumstances, policymakers considered the current macroeconomic stability and inflation convergence to the long-term target is compatible with an increase in the interest rate. The central bank also said the gradual adjustment of the expansionary monetary policy stance reduces the need for sudden changes in the future, thus ensuring stability.

The Board of the central bank also decided to increase the quantity of purchases of international reserves during the third quarter up to 2 billion USD between July and September.

Banco de la República | Isabel Felino |
6/23/2014 12:45:23 PM

Recent Releases

Colombia Raises Interest Rate for 2nd Straight Meeting
At its May 30th, 2014 meeting, Central Bank of Colombia decided to increase the benchmark interest rate by 25 bps to 3.75 percent, as the inflation rate continued its expected convergence toward the central bank’s 3 percent target. Published on 2014-06-02

Colombia Unexpectedly Raises Interest Rate to 3.5%
At its April 25th meeting, Central Bank of Colombia increased the benchmark interest rate to 3.5 percent due to higher inflation and improving economy. Published on 2014-04-25

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-03-21 04:40 PM Colombia
Interest Rate Decision
3.25% 3.25% 3.25% 3.25%
2014-04-25 08:40 PM Colombia
Interest Rate Decision
3.5% 3.25% 3.25% 3.25%
2014-05-30 07:30 PM Colombia
Interest Rate Decision
3.75% 3.5% 3.5%
2014-06-20 10:30 PM Colombia
Interest Rate Decision
4.0% 3.75% 4.0% 3.75%
2014-07-31 05:00 PM Colombia
Interest Rate Decision
4.0% 4.25% 4%

Money Last Previous Highest Lowest Unit
Interest Rate 4.00 3.75 32.00 3.00 Percent [+]
Money Supply M0 37065.60 36056.54 39223.09 44.83 COP Billion [+]
Money Supply M1 81860.11 78373.66 85554.41 164.44 COP Billion [+]
Money Supply M3 351186.60 346239.64 351186.60 317.55 COP Billion [+]
Foreign Exchange Reserves 45502.61 45035.48 45502.61 -134.90 USD Million [+]

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