Colombia announces largest-ever rate increase

Central bank orders 150bp rise, while president-elect announces next finance minister

Banco de la Republica
Central Bank of Colombia, Bogota
Rachael King

The board of the Colombian central bank unanimously approved a 150 basis point increase in the policy rate on June 30. The move, which brought the rate to 7.5%, is the largest rate increase in the institution’s history. The decision also brings the policy rate to its highest level since the beginning of 2017.

In its press statement, the central bank board cited continued high inflation. The headline reading fell slightly in May to 9.07%, from 9.23% in April. Core inflation, however, rose more

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account