The Board of Directors of Banco de la República kept the benchmark rate steady at 11.25 % on 30 April 2026, arguing that an unchanged stance best balances support for the economy’s firming recovery with the goal of returning inflation to target despite a recent pickup in price pressures. The pause follows cumulative 200 bp of tightening in January and March 2026. Headline inflation rose to 5.6 % in March—46 bp above December—while core inflation climbed to 5.8 %; one-year-plus inflation expectations have generally eased, though survey medians for end-2026 increased. Forward indicators of energy demand, manufacturing, retail trade, and external goods flows point to first-quarter growth surpassing the previous quarter, and the labour market remains vibrant with historically low unemployment and rising salaried jobs. The Board flagged the risk that a prolonged Middle East conflict could fuel higher global energy and commodity prices and tighten external financing conditions. It reiterated that future policy moves will be guided by the evolution of inflation, expectations, activity, and external risks.
Central Bank of Colombia 2026-04-30
Banco de la República keeps policy rate unchanged at 11.25 percent
Colombia’s Banco de la República kept the policy rate at 11.25 % on 30 Apr 2026, pausing after 200 bp of hikes in January–March to balance a firmer recovery with headline inflation at 5.6 % and core at 5.8 %. The Board signalled data-dependent guidance and cited Middle East conflict risks to global energy prices and financing conditions.