In a move to stimulate economic activity, Colombia has decided to lower its interest rates from 12.25% to 11.75% in May 2023. The previous indicator had been unchanged since March 2024. The decision to lower the interest rates comes as the country aims to boost borrowing and spending in the economy amidst challenging global economic conditions.
This interest rate adjustment was announced on 30th April 2024 and is expected to have an impact on various sectors, including consumer spending, housing market, and investments. Analysts are closely monitoring how this change will influence inflation and economic growth in Colombia in the coming months. With this adjustment, the Colombian government is signaling its commitment to supporting economic recovery and stability in the region.
