Costa Rica: Basic Rate Down to 7.25%

Maintaining its recent trend of high volatility, the base rate fell 50 basis points to 7.25%.

Thursday, December 16, 2010


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In the most recent inflation report, Banco Central de Costa Rica (BCCR) reveals one of the causes of this behavior which generates distortions to individuals and financial instruments that are linked to the national reference rate. The BCCR notes that during the past two months temporary upward variations in the basic rate are due to specific transactions negotiated by some banks with public sector entities at preferential rates.

This situation reveals major weaknesses in how the rate is calculated, since it reflects prevailing macroeconomic conditions in the country, like low inflation, weak economic activity and currency appreciation.

More on this topic

Costa Rica's Central Bank Rises Basic Rate to 7.25%

December 2010

Starting tomorrow, December 2nd, the passive basic rate will raise 25 basis points.

According to an announcement by the Central Bank of Costa Rica, the rate will rise to 7.25% from the current 7%.

"With this move, the indicator recovered a little of what had lost a week ago, on November 25th, when it fell 75 points in a single setting," Elfinancierocr.com writes.

Costa Rica: Basic Rate Rises to 9.75%

May 2012

Continuing the upward trend in recent months, the Passive Basic Rate (PBR) has reached values not seen since late 2009.

From Thursday 3rd May the PBR to will go up to 9.75%, reaching a level similar to the end of 2009.

"From the first week of January until the 1st of May, the simple average of the PBR was 9.04%, if you compare that to the corresponding period of 2011 the average was 7.42%", reported Elfinancierocr.com.

Costa Rica: Basic Rate down to 6.75%

October 2010

The passive low base rate falls for the second consecutive week, from 7.50% to 6.75%.

Two weeks ago it temporarily located at 8.25%, showing the vulnerability of the indicator and transient conditions of liquidity as well as sector-specific needs, with the aggravation that this rate is used as the main reference for credit grants, so it has direct effect on financial planning for many businesses and families.

Costa Rica: Basic Rate Down to 7.50%

September 2010

Starting Thursday, September 30, the Passive Basic Rate (TBP) will stand at 7.50%.

El Financiero, on its website explains "the TBP is a weighted average interest rate of gross uptake in Colones, negotiated by financial brokers operting in the country as well as by Central Bank and the Ministry of Finance.”

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