Costa Rica's Reduces its Interest Rate Objective to 7.5%

The Costa Rican Central Bank (BCCR) has cut its monetary policy managed rate (TPM in Spanish) by 0.5%.

Thursday, August 19, 2010

BCCR believes that medium term inflationary pressures have subdued, taking into account underlying variation in prices. In addition, greater exchange rate flexibility has created favorable conditions enabling it to manage monetary policy more effectively," reports Nacion.com.

From 19 August a reduction to 4.25% has also been agreed in the gross annual interest rate for one day deposits.

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