Central bank of Costa Rica foresees improvement in the economy for 2009

The president of the Central Bank, Francisco de Paula Gutiérrez, stated that the restrictive measures enforced by the bank will begin to bear fruit in 2009.

Friday, August 1, 2008

The restrictions that were cited include less currency, tighter loan requirements, higher interest rates and the increase in the price of the dollar. The President reiterated that they will continue to apply the inflation targeting system, and set a target of 9%.

More on this topic

Costa Rica as Seen by the IMF in May 2017

May 2017

Forecasts are for lower economic growth this year, driven by a weakening of the terms of trade and more restrictive financial conditions, caused by the high fiscal deficit.

From a press release issued by the IMF:

I. Recent Developments


1. Both output and growth are at potential, while inflation has reemerged and is rising moderately.

Costa Rica Expects More Inflation

September 2014

Between August and September expectations by Costa Ricans regarding the behavior of prices for the next 12 months increased from 6.5% to 6.8%.

From Pulso Bursátil, a blog by Aldesa:

Expectations of price behavior for the next 12 months range from 6.5% to 6.8% between August and September, according to the Survey of Expectations by the Central Bank of Costa Rica (BCCR).

Costa Rica's inflation to surpass 11%

June 2008

A survey of economic forecasts shows that the average inflation rate expected for Costa Rica over the next 12 months is 11.7 per cent. A currency devaluation of 3.5 percent is also expected.

The survey is carried out each month by the Central Bank to measure inflation and exchange rate expectations by analysts and experts. The survey covers businessmen, academics and consultants.

Rate cuts spell losses for Costa Rican savers

April 2008

Inflation in Costa Rica is now running at more than twice the base lending rate, leaving savers with negative yields in real terms.

The base lending rate (TBP) was reduced again Thursday, this time from 4.75 to 4.25 percent, its lowest ever according to Central Bank records. Inflation, meanwhile, is running at just over 11 percent.

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