Costa Rica: Base Rate Remains at 6.95%

Keeping a level close to the lowest in the last four years, for the second consecutive week the central bank calculated the base lending rate at 6.60%.

Wednesday, June 26, 2013

Crhoy.com reports that "with this percentage the rate has reached its lowest level since the implementation of the new calculation methodology adopted in December 2012, and one of the lowest in the last four years."

"The PBR is calculated with information from the gross interest rates negotiated for each of the business acquisitions, for periods of 150 and 210 days during the week preceding the calculation (Wednesday to Tuesday), by financial intermediaries, Excluding only the Ministry of Finance and the Central Bank of Costa Rica (BCCR ").

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More on this topic

Costa Rica: Passive Base Rate Rises to 6.65%

July 2013

The Central Bank of Costa Rica has announced that starting from July 18th the base rate will increase from 6.60% to 6.65%.  

Crhoy reports: "The PBR will rise after remaining for four consecutive weeks at 6.60%, the lowest level since the application of the new calculation method, adopted in December 2012, and one of the lowest in the last four years ".

Costa Rica: Base Rate Still 6.65%

June 2013

The Central Bank of Costa Rica reported that from June 13 for the third consecutive week the PBR will remain at 6.65%.

Crhoy.com reports that "with this percentage the rate has reached its lowest level since the implementation of the new calculation methodology adopted in December 2012, and one of the lowest in the last four years."

Costa Rica: 6.95% Could be Floor for Passive Base Rate

April 2013

For the third consecutive week, the base borrowing rate by the Central Bank will remain at the same figure.

Nacion.com reports that "the level of 6.95% is the lowest this year, as the rate started off in January at 9.20%. From there it has gradually dropped to its current level ".

Costa Rica: Passive Base Rate Drops to 9.10%

January 2013

Since late December last year, the Central Bank of Costa Rica has applied a new methodology for calculating the passive base rate.

From the website of the Central Bank of Costa Rica (BCCR):

Passive Base Rate

A. Definition

The base rate is a weighted average of the interest rates in colones on gross collections by financial intermediaries negotiated by domestic residents and the interest rates for deposit instruments of the Central Bank and Ministry of Finance negotiated both in the primary and secondary market, each corresponding to periods of between 150 and 210 days.

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