This is the third consecutive increase by the indicator, thus reaching the value it had on November 24th.

"Although this is a new increase, the indicator is not yet near its yearly peak, which is 8.50%, recorded last May," Edgar Delgado in his article at Elfinancierocr.com reports.

Source: elfinancierocr.com

More on this topic

Costa Rica: Passive Base Rate Rises to 6.60%

November 2013

The Central Bank has reported that, as of this November 7th and at least until the 13th the PBR will rise from 6.55% to 6.60%.

Elfinancierocr.com reports: "According to the Central Bank's calculation, the rate increase is due to increases in deposit rates (savings) made by private banks and mutual savings and loan companies. Only credit unions decreased their yields, slightly, in the week the calculation was made. "

Basic Rate in Costa Rica up to 7.5%

March 2011

The rise of a quarter percentage point locates the indicator at 7.5%.

With this increase, the Basic Passive Rate calculated by the Central Bank of Costa Rica is now located at the same level from two weeks ago.

"This week´s upward movement also affects monthly loan payments for those who have taken credits indexed to this rate," reported Gabriela Mayorga in her article at Elfinanciercr.com.

Basic Rate Rises to 7.75% in Costa Rica

November 2010

The basic passive rate rose this Thursday from 7.50% to 7.75%.

Since late last month, the indicator has shown an upward trend.

"The last time it was at 7.75% TBP was in September and earlier in May", reported Elfinancierocr.com. "Despite the increase, it has not yet reached its highest level of 2010, which was 8.50%",

Central Bank of Costa Rica raises annual rate to 9.38%

August 2008

On Tuesday the Central Bank increased the gross annual interest rate for one year electronic deposit from 9.13% to 9.38%.

It also raised the rate offered for deposit that are for 180 days to less than a year from 7.73% to 8.23%.
The increase that the Central Bank applies to its rates pressure the commercial banks to also increase their interests and causes an increase in the passive basic rate, which starting today will increase from 7.50% to 7.75%.