Basic Rate Drops to 8.75% in Costa Rica

The quarter of a percentage point drop is the sixth reduction in the past two months.

Wednesday, November 4, 2009

"The basic passive rate is an average of all rates paid by the Central Bank, the Treasury and the banks for 5 to 6 months deposits", explains Elfinancierocr.com.

"It is a relevant indicator, as it shows investors what was the average yield they received on their savings in colones".

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More on this topic

Basic Rate in Costa Rica Drops to 8.75%

February 2012

The basic passive rate has gone down and stands at 8.75% from Thursday 16th until next Wednesday 22nd February.

"The decline in the indicator is driven by a decline in average rates paid by public commercial banks, it went from 8.90% to 8.73%. These entities are those with the most weight relative to the calculation made by the Central Bank of Costa Rica", reports Elfinancierocr.com

Basic Rate down to 7.25% in Costa Rica

March 2011

After spending a month at 7.5%, the Basic Passive Rate went down a quarter of a percentage point.

The new value is the lowest in 2011; the highest has been 8%.

"The basic passive rate is the combination of the gross interest rates paid by banks and government to savings accounts.

Costa Rica: Basic Rate Drops to 10.75%

October 2009

This reduction of 0.75 percentage points is the largest so far this year.

Debtors with loans in colones will benefit from this movement in the rate.

"The basic passive rate is a weighted average of gross savings rates in colones ... and interest rates paid by bonds issued by the Central Bank and the Treasury", reports local newspaper La Prensa Libre.

Basic Passive Rate Goes Up in Costa Rica to 11.25%

July 2009

The change in the Basic Passive Rate of 11% to 11.25% announced by the Central Bank of Costa Rica goes into effect today.

According to Elfinancierocr.com, “This is the first rise in the last four weeks. Since June 11th, it has been at 11.0%.”

The basic passive rate is an average of saving interest rates in colones for terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

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