Central Bank of Costa Rica increases rates

The BCCR increased interest rates for electronic deposits in colones acquired over the internet.

Wednesday, October 15, 2008


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Gross interest rate (which includes the 8% tax) for 30 day deposits increased from 5.43% to 6.0%.
Mean while, for 360 day deposits (The rate went up to 12.28%). The increase in rates for deposits at the Central Bank, as well as the adjustments being implemented by other financial institutions, cause the basic passive rate to continue to rise.

More on this topic

Costa Rica: New Monetary Policy Rate

June 2011

The Central Bank of Costa Rica has announced a new monetary policy rate adjusted to a value of 5%, as part of a new system of monetary control.

A report by Aldesa explains the meaning of the Monetary Policy Rate (MPR), and outlines the possible consequences of the BCCR’s new strategy on inflation and interest rates.

Costa Rica: Monetary Policy Rate Drops to 4.25%

March 2015

In response to the slowdown experienced by the economy for nine months, the Central Bank of Costa Rica has reduced the monetary policy rate from 4.75% to 4.50%.

From a statement issued by the Central Bank of Costa Rica:

The Board of the Central Bank, on Wednesday March 18, established the monetary policy rate at 4.5% annually, which represents a decrease of 25 basis points; Moreover, the gross rate of deposits with a maturity date of one day stood at 2.66% per annum, starting from March 19, 2015.

Costa Rica: Monetary Policy Rate Drops to 2.25%

October 2015

For the seventh time this year the Central Bank has lowered the monetary policy rate from 3% to 2.25%, and projected that inflation at the end of the year will be close to 0%.

The Board of the Central Bank of Costa Rica also decided to set the gross interest rate for overnight deposits (DON) at 0.95% as of October 21.

Costa Rica: Monetary Policy Rate Lowered Again

April 2015

In an attempt to boost the economy, for the third time so far this year, the Central Bank has made a downward adjustment to the monetary policy rate, lowering it from 4.5% to 4%.

The Board of the Central Bank of Costa Rica decided, unanimously and resolutely:

1. To fix the monetary policy rate at 4.0% annually, from April 23, 2015.

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