An ANIF survey published on July 24, 2026, indicates that the Banco de la República board would raise the intervention rate to 12.50% at its July meeting.
The survey polled 21 analysts. Fourteen of them, or 66.7%, anticipate a 50 basis point increase. Three expect a 25 basis point rise, three foresee 75 basis points and one expects no change.
ANIF noted that a level between 12.25% and 12.75% had not been seen since April 2024. Analysts agree the decision will not be unanimous, with 20 of the 21 respondents expecting three board members to dissent.
Analysts identified Germán Ávila, César Giraldo and Laura Moisá as possible dissenters in the event of a 50 basis point or larger increase. The July meeting would be the last rate decision during Gustavo Petro's government.