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
Gross interest rate (which includes the 8% tax) for 30 day deposits increased from 5.43% to 6.0%.
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.
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%.
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%.
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%.
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