Basic interest rate raised to 9.25% in Costa Rica
The basic passive rate, which is an average of the savings interest rates, will go up today by 0.5 percentage points, from 8.75% to 9.25%.
Thursday, September 25, 2008
This increase will make it a full 5 percentage point increase since last May, when it was at a historic low of 4.25%.
Negotiations carried out this week with titles from the BCCR (Central Bank) and the Government in the secondary market were part of the effect that cause the increase in the basic passive interest rate which comes into effect today.
The passive basic rate (an average of the interest rates for savings in colones at terms of 150 to 210 days) goes up starting today, from 7.75% to 8.50%
The basic fee passive (TBP) fell by 0.75 percentage points, going from 7.25% to 6.50%, the Central Bank reported yesterday.
From 16 and to at least 23 of May, the passive base rate in Costa Rica will remain at 6.70%.
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