Costa Rica: Base Rate Decreases to 11.75%
This decline of 0.50 percentage points is the fourth non-consecutive reduction of the indicator so far this year.
Thursday, March 26, 2009
El Financiero published on its website: "The TBP (Basic Passive Rate) is an average interest rate on money collection among financial institutions, the Ministry of Finance and the Central Bank in time periods between 150 and 210 days.
Beginning today, the base passive was lowered one quarter-point from 11.75% to 11.50%.
After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.
As of today, the basic passive interest rate dropped by a quarter point, from 11.5% to 11.25%.
With a drop of 0.15 percentage points the passive base rate (TBP by its initials in Spanish) is located as of this March 14 at 7.10%.
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