Colombia Central Bank Holds Rate at 11.25%

Colombia's central bank kept the policy rate unchanged at 11.25% on 1 May 2026, contrary to analyst expectations of a hike.
The unanimous decision, announced by Governor Leonardo Villar, follows a clash with President Gustavo Petro and Finance Minister Germán Ávila over policy.
Inflation remains above target, reaching 5.6% last month—the highest since 2024—while Petro’s 23% minimum‑wage hike adds pressure to.
The rate hold comes a month before the presidential election, with Petro ally Senator Iván Cepeda leading the race.