Interest rates hit Development Units in Costa Rica

High interest rates in Costar Rica could result in lower prices for government securities called Development Units, according to some financial analysts.

Monday, July 28, 2008

The Finance Minstry, however, maintains that these units have gained in popularity in times of negative real interest rates as investment vehicles because they will provide a better profit margin.
By definition these units guarantee a positive real return, and in a time of lower interest rates they will be very attractive.

More on this topic

Costa Rica: Electronic Savings Pay Less

August 2011

The central bank has lowered the interest rates it pays on electronic savings deposits on the "Central Directo" system.

The monetary authority decided to cut rates in order to better align itself with the rates being offered on the market in recent months, which have been relatively low and stable.

Costa Rica: Basic Borrowing Rate Stays at 6.95%

August 2014

The indicator used as a reference for credit and investments will stay at the rate of 6.95% at least until Wednesday August 20, 2014.  

The Central Bank of Costa Rica has reported that the base rate will remain at 6.95% for another week. The indicator has fluctuated between 6.7% and 7% over the past five months.

Sharp Drop in Savings Rates in State Banks

March 2013

From October last year to date, public banks in Costa Rica cut their average rate by almost 4.5%.

"In the last four months state banks made a sharp rate cut to place them below the average of other intermediaries and brush with near-zero real returns", reported Nacion.com.

Savings Rate in Costa Rica Back Down to 6.45%

October 2015

The reference rate for loans and investments decreased from 6.50% to 6.45%, where it will remain until its review next week.

The passive base rate is keeping up its highly variable behavior going up one week only to fall back down the next. The current rate calculated by the Central Bank will be located at 6.45% until at least 21st of October.

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