Costa Rica: Basic Rate at 11.5%

The half point drop effective from today, is the first for the year after two consecutive increases.

Thursday, January 22, 2009

Elfinanciero.com reports: "The Basic Passive Rate is an average of the rates paid for investments by financial entities, the Ministry of Housing, and the Central Bank for terms of 150 and 210 days.

Its behavior is important because its shows the average results gotten by consumers for their savings and deposits."



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Costa Rica: Basic Rate Goes Up to 12.25%

March 2009

The increase in the passive base rate, valid beggining today, is of 0.25%.

The person in charge of monetary and financial statistics for the Central Bank of Costa Rica, Pablo Villalobos, told la Nacion "that this week’s increase in the base rate was due to some brokers raising their rates and others lowering them, but increases weighed a little more on the average.”

Basic rate in Costa Rica increases to 11.50%

December 2008

As of today, the basic passive rate will go up by 0.50 points to 11.50%, its highest since November 2006.

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

Costa Rica lowers basic interest rate to 11%

November 2008

The basic passive rate has remained close to 11% for almost a month with slight variations in either directions.

Starting today it will be lowered from 11.25% to 11%.

The basic passive rate is an average of the interest rates for saving in colones at terms of 150 days (5 months) and 210 days (7 months) and is calculated by the Central Bank.

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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