Basic rate goes up to 11% in Costa Rica
The passive basic rate goes up, starting today, by one percentage point, from 10% to 11%, the Central Bank reported today.
Thursday, October 16, 2008
The passive basic rate is an average of the interest rates for savings in colones for terms between 150 days (5 months) and 210 days (7 months). With yesterday's increase, there have now been 13 increases since last May, which were interrupted last week with a drop of 0.25 points (10%).
The basic passive rate goes up by a quarter percentage point starting today, going from 11.50% to 11.75%, according to the Central Bank.
The rate increase of half a percentage point, effective today, bring the interest rate to 11.25% until November 26, the Central Bank reported.
As of today, the basic passive rate will go up by 0.50 points to 11.50%, its highest since November 2006.
The half point drop effective from today, is the first for the year after two consecutive increases.
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