Costa Rica: Basic Rate Drops to 12%

After a 0.25% reduction, the Basic Rate stands now at 12%.

Thursday, July 30, 2009

"It is the second consecutive week of reduction for this indicator, reversing the raising trend it showed from June onwards", reported Elfinancierocr.com. "A couple of days ago some financial institutions raised their savings rates in colones, pushing the basic rate up to 12.75%".

The Basic Passive Rate is calculated by the Central Bank, and it is a weighted average of savings interest rates in colones, from 5 to 7 months.

More on this topic

Basic Rate Drops to 9.25% in Costa Rica

December 2009

The Basic Passive Rate (TBP) dropped a quarter of a percentage point and now stands at 9.25%.

It is now at the same level as two weeks ago, when it also reached 9.25%.

"Tha Basic Passive Rate is a weighted average of savings interest rates in colones paid by banks, Central Bank and the Treasury, with maturities between 150 and 210 days", explains Prensalibre.cr.

Basic Rate Drops to 11.5% in Costa Rica

August 2009

The drop of 0.5 percentage points is the third consecutive since mid July, when the rate stood at 12.75%.

"These variations are important because they tell investors what was the average return on their savings, as well as telling debtors how much they will pay, as most loans are tied to the performance of this rate", reported Elfinancierocr.com.

In Costa Rica basic rate at 11.25%

January 2009

As of today, the basic passive interest rate dropped by a quarter point, from 11.5% to 11.25%.

Nacion.com reports: "The basic passive rate was reduced for the second consecutive week this month.

The basic passive rate is calculated by the Central Bank and is a weighted average of the interest rates for savings in colones for terms of between 150 days (5 months) and 210 days (7 months)."

Basic interest rate lowered to 10% in Costa Rica

October 2008

After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

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