Basic Rate Climbs to 12% in Costa Rica
The reference rate for setting interest rates in savings and loans increased by 75 basis points.
Thursday, July 9, 2009
With this increase, investors receive better returns and debtors will have to pay more for their loans.
The rise of a half of a percentage point will take place starting today, being the maximum level registered during 2009.
The rate increase of half a percentage point, effective today, bring the interest rate to 11.25% until November 26, the Central Bank reported.
After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.
The basic passive rate, an average of the interest rates for savings, rose from 9.25 to 10.25%, the highest increase recorded in a single week since May.
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