Basic Rate Drops to 11.5% in Costa Rica

The indicator is at the same level it had for almost a month, after a drop of a quarter percentage point.

Thursday, September 17, 2009

After a week at 11.75% the rate goes back to the 11.50%, level it had between August 6th and September 9th.

"The Central Bank had reported last Wednesday that the increase in the rate was due to a calculation issue rather than a market situation. This is because passive rates had increased slightly in the previous days, but not enough to push the indicator to the next quarter of percentage point", reports Elfinancierocr.com.

More on this topic

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 Starts Year at 7.25%

January 2011

The basic passive rate started the year with a decline of 0.75 points to settle at 7.25%.

The indicator calculated by the Central Bank of Costa Rica is located at the same value it had in early December 2010.

"The estimated percentage is lower than that reported by the indicator exactly one year ago, when at the time was at 8.25%, it then dropped to 8% which was maintained until mid-February 2010,"writes Elfinancierocr.com.

Basic Rate Climbs to 11.75% in Costa Rica

September 2009

It raised 0.25 percentage points, its first increase since August 6th.

The basic passive rate is an average of savings interest rates in colones for deposits between 150 and 210 days. It is calculated by the Central Bank.

"Interest rates paid by financial entities saw minor changes in both directions (increases an decreases) this week", reported Pablo Villalobos, from the Central Bank.

Basic Rate in Costa Rica Drops 11%

June 2009

The drop of one fourth percentage point is registered after three weeks in which the indicator was stable at 11.25%.

With this reduction, the rate reaches the same level observed in November of 2008.

Édgar Delgado publishes in Elfinancierocr.com: "The behavior of this indicator is important and not just because it provides a sign of what savers are receiving for their investments..."

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