The Banco de la República governing board will hold its next monetary policy rate decision meeting on 30 October. Market expectations are for a 25 basis point increase at that meeting.

Banco de la República governor Leonardo Villar has stated there is currently no scope for interest rate cuts. The central bank acknowledges high rates harm economic growth but maintains they are required to control inflation.

At the prior policy meeting on 30 September 2026, the bank raised the policy rate from 12.00% to 12.25%. Four of seven board directors voted for that 25 basis point rise.