Colombia Tasso Di Interesse

The Central Bank of Colombia left its benchmark policy rate unchanged at 9.25% in June 2025, with four directors voting to maintain, two for a 50 bps cut and one for 25 bps. Annual inflation showed a marginal decline, easing to 5.1% in May from 5.2% in April, while core inflation excluding food and regulated prices softened to 4.8% from 4.9%. Activity indicators for the first quarter suggest GDP grew 2.7% year-on-year, prompting the technical team to raise its growth forecast for 2025 to 2.7% (and to 3.0% for 2026). However, global financial conditions remain restrictive amid elevated geopolitical tensions and persistent uncertainty over U.S. tariff policy, limiting scope for more aggressive rate cuts. The Board emphasized that future policy decisions will depend on the information available.