This increase puts the rate at the level reported in early January.
"The basic passive rate is a weighted average interest charged by savings banks, the Central Bank and the Ministry of Finance for terms between five and seven months. The Central Bank calculates the rate every Wednesday," wrote Nacion.com.
The basic passive rate increased 25 basis points and now stands at 8.25%.
For the past four months, the rate has hovered between 8% and 8.5%. Since the start of the year, we have maintained our forecast that it would remain between 8% and 10% for the first six months of the year.
The indicator is at its highest value so far 2012 (10.5%).
"The increase occurred despite the fact that on 23 August, the Legislature passed a law, on its second debate, to raise funds for Costa Rica using foreign debt (Eurobonds). This was expected to reduce local interest rates", writes Sergio Morales for Financierocr.om
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