Costa Rican Central Bank Raises Six-Month Deposit Rates
The Central Bank increased the interest rate in Central Directo from 10.28% to 10.87% for deposits of 180 to 359 days.
Thursday, March 5, 2009
Patricia Leitón wrote in Nacion.com: "The gross interest rate rose from 10.28% to 10.87%. The overall rate does not include an 8% reduction on interests earned. If we exclude this tax, the net rate is 10%.
The Central Bank of Costa Rica has once again increased interest rates on savings offered by the electronic platform Direct Central.
In the last 35 days the Central Bank has raised the political rate two times and the rate for deposits three times.
The interest rate on Electronic Fixed Term Deposits ranging from 30 days to five years has decreased by between 0.25 to 0.32 percentage points.
Costa Rican credit unions pay up to 4.25% more than banks on term deposits in local currency.
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