哥伦比亚中央银行于2025年4月将基准政策利率下调25个基点至9.25%，董事会一致投票支持下调。年通货膨胀率恢复下降趋势，从2月份的5.3%降至3月份的5.1%，而不包括食品和受监管价格的核心通货膨胀率继续疲软，从4.9%降至4.8%。第一季度的活动指标显示，国内生产总值同比增长2.5%，促使技术团队将2025年的增长预测提高到2.6%（2026年提高到3.0%）。然而，在全球贸易紧张局势、金融市场波动加剧和美元走强的情况下，外部融资条件变得更加严格，这提振了哥伦比亚的风险溢价，并使通胀压力居高不下，这限制了更激进的降息空间。审计委员会强调，未来的政策决定将取决于即将公布的经济数据。
The Central Bank of Colombia reduced its benchmark policy rate by 25 bps to 9.25% in April 2025, with the Board voting unanimously for the cut. Annual inflation resumed its downward trend, easing to 5.1% in March from 5.3% in February, while core inflation excluding food and regulated prices continued to soften, falling to 4.8% from 4.9%. Activity indicators for the first quarter suggest GDP grew 2.5% year-on-year, prompting the technical team to raise its growth forecast for 2025 to 2.6% (and to 3.0% for 2026). However, external financing conditions have become more restrictive amid global trade tensions, heightened financial market volatility and a stronger dollar, bolstering Colombia’s risk premium and keeping inflationary pressures elevated, which limits scope for more aggressive rate cuts. The Board emphasized that future policy decisions will depend on incoming economic data.
