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.

Source: elfinancierocr.com

More on this topic

Passive Base Rate Remains at 6.75%

May 2013

The Central Bank of Costa Rica reported that from 2 and at least until May 8, the PBR will remain at 6.75%.

"This is one of the lowest recent levels and for the longest duration. The last time it was at 6.75% was in October 2010 and then it was only for a week," noted an article in Elfinancierocr.com.

Costa Rica: Passive Base Rate Rises to 10.5%

August 2012

From today the Passive Base Rate (PBR) rises by a quarter point, going from 10.25% to 10.50%, its highest level for almost three years.

The passive base rate is calculated by the Central Bank and is a weighted average of interest rates of savings in colones for periods ranging from 150 days (5 months) to 210 days (7 months).

Costa Rica: Basic Rate Rises to 9.75%

May 2012

Continuing the upward trend in recent months, the Passive Basic Rate (PBR) has reached values not seen since late 2009.

From Thursday 3rd May the PBR to will go up to 9.75%, reaching a level similar to the end of 2009.

"From the first week of January until the 1st of May, the simple average of the PBR was 9.04%, if you compare that to the corresponding period of 2011 the average was 7.42%", reported Elfinancierocr.com.

Basic Rate Increases 25 Points in Costa Rica

April 2010

The basic passive rate increased 25 basis points and now stands at 8.25%.

For the past four months, the rate has hovered between 8% and 8.5%. Since the start of the year, we have maintained our forecast that it would remain between 8% and 10% for the first six months of the year.