Costa Rica Retains 5% Inflation Objective

The Costa Rican Central Bank, in its half yearly review of the Macroeconomic Program, held inflationary goals for December 2010 and 2011 constant at 5% and 4% respectively.

Friday, July 30, 2010

The document's prologue indicates that:

"Monetary policy remains focussed on consolidating the deflationary trend observed in the last 19 months. In the medium term the aim is that inflation will converge with levels in the country's main commercial partners. As such, the institution will continue with measures to improve liquidity management with the goal that setting the interest rate becomes the main tool of monetary policy."

Regarding the exchange environment, the bank will maintain its objective of migrating gradually towards a floating rate scheme, such that monetary policy is more effective.

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