Passive interest rate in Costa Rica rises to 7.25%

The passive interest rate which began to rise in April will be at 7.25% starting today.

Thursday, August 7, 2008

This rate is used as a reference for loans in the local currency; hence an increase in the passive rate is a stimulus for savers.
This also means that loans in colones that are indexed to this rate will most likely be adjusted to reflect the rise, and that borrowers will probably have to pay a little more for loans at the banks. As a result, monthly payments for loans set at a variable rate on the passive interest rate will be higher.

More on this topic

Leading Interest Rate in Guatemala Rises to 5.25%

April 2013

Taking into account inflation expectations, the Monetary Board has increased the leading interest rate by 0.25% , going from 5% to 5.25%.

From a press release issued by the Bank of Guatemala (Banguat):

The Monetary Board in its meeting today, after learning the balance of inflation risks, based on comprehensive analysis of the external and internal situation, has decided to raise the level of the monetary policy leading interest rate by 25 base points, going from 5.00% to 5.25%.

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.

Basic interest rate goes up to 10.25% in Costa Rica

October 2008

The basic passive rate, an average of the interest rates for savings, rose from 9.25 to 10.25%, the highest increase recorded in a single week since May.

The basic passive rate is an average of the interest rates for savings in colones at terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

Costa Rica's savings interest rate rises to 7%

July 2008

For the fifth time this year, Costa Rica's interest rates are heading higher.

The latest adjustment reflects the fact that most financial institutions have raised their interest rates paid for savings in colons. As recently as April 16 the rate was just 4.25 percent.
This means that indexed credits in colons at this rate will probably be raised and borrowers wil have to pay a bit more.

 close (x)

Receive more news about Central Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


ATENAS: 13 HA, 1.5 KM from Highway 27, US$ 11/m2

Prime Lake Front Real Estate near San Jose, CR Now Available for Development, an extraordinary commercial real estate opportunity.
A lush 32 acre/13 hectare plot located just West of the...

Stock Indexes

(Aug 30)
Dow Jones
-0.07%
S&P 500
0.14%
Nasdaq
0.38%

Commodities

(Aug 30)
Brent Crude Oil
51.370
Coffee "C"
127.05
Gold
1,310
Silver
17.435