Basic Rate Drops to 11.5% in Costa Rica
The drop of 0.5 percentage points is the third consecutive since mid July, when the rate stood at 12.75%.
Thursday, August 6, 2009
"These variations are important because they tell investors what was the average return on their savings, as well as telling debtors how much they will pay, as most loans are tied to the performance of this rate", reported Elfinancierocr.com.
After a 0.25% reduction, the Basic Rate stands now at 12%.
After dropping a quarter of a percentage point, the rate now stands at 8%, its lowest level since August 2008.
The Basic Passive Rate (TBP) dropped a quarter of a percentage point and now stands at 9.25%.
The reference rate for setting interest rates in savings and loans increased by 75 basis points.
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