Base Rate Rises to 12% in Costa Rica

The rise of a half of a percentage point will take place starting today, being the maximum level registered during 2009.

Thursday, February 26, 2009

Nacion publishes on its website: "Henry Vargas, an expert in the area of Statistics at the Central Bank, stated that this increase in the base rate has taken place due to commercial banks changing their funding strategy, which consists of getting less from external resources and capturing more within the local market.”

More on this topic

Costa Rica: Basic Rate Rises to 9.25%

March 2012

The Basic Passive Rate has increased by 25 base points and stands at 9.25% as of Thursday 1st March.

This percentage of 9.25% is the highest since late last year, in 2011, when it started on its upward trend.

"The last time that the basic passive rate reached that level was in December 2009 when the rate went down after having been at values of up to 12.25%.

Basic Rate Drops to 8% in Costa Rica

January 2010

After dropping a quarter of a percentage point, the rate now stands at 8%, its lowest level since August 2008.

The Basic Passive Rate is calculated each Wednesday by the Central Bank of Costa Rica.

"The basic rate is a weighted average of interest rates paid by financial entities, Central Bank and the Treasury, for maturities between 5 and 7 months, and is also used as a reference for loans", reported Nacion.com.

Basic Rate Drops to 9.25% in Costa Rica

December 2009

The Basic Passive Rate (TBP) dropped a quarter of a percentage point and now stands at 9.25%.

It is now at the same level as two weeks ago, when it also reached 9.25%.

"Tha Basic Passive Rate is a weighted average of savings interest rates in colones paid by banks, Central Bank and the Treasury, with maturities between 150 and 210 days", explains Prensalibre.cr.

Basic Rate Climbs to 12% in Costa Rica

July 2009

The reference rate for setting interest rates in savings and loans increased by 75 basis points.

With this increase, investors receive better returns and debtors will have to pay more for their loans.

A La Prensa Libre article quotes comments of Pablo Villalobos, monetary and financial statistics head at the Costa Rica Central Bank: "...

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