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2026-10-31 06:50:26
The Central Bank of Colombia (CBC) kept its key interest rate unchanged at 12.25% at its October 2026 meeting, in line with market expectations. The Board noted that the annual inflation rate rose slightly to 6.3% in September, slightly below expectations. Core inflation fell to 6.0% in September from 6.1% in August. However, the El Niño weather phenomenon poses a significant upside risk to the outlook for food and regulated prices. Inflation expectations for December 2026 rose slightly to 6.9%. The Board also noted that Colombia's economic growth in the third quarter is estimated to have slowed compared to the previous quarter. Domestic demand indicators show weakening growth in both private and public sector consumption. The Board emphasized the importance of a comprehensive review of the economic relief bill submitted to Congress, and pointed out that the evolution of public finances is a key factor in future monetary policy decisions.
