Costa Rica's central bank raises colon interest rates

Costa Rica's central bank raised its monetary policy interest rate from 3.25 percent to 4.25 percent, the elfinancierocr.com website reported.

Thursday, May 29, 2008

The increase gives a clear signal on how colon interest rates are likely to move in the coming weeks, the website said.

More on this topic

Base Rate Increases to 9.75% in Costa Rica

June 2012

The passive base rate has increased by 25 base points, reaching a level of 9.75%.

The rise reflects an increase in deposit rates of commercial public banks.

The average deposit rates in public commercial banks rose from 9.5% to 9.7%.

"The indicator is calculated by the Central Bank of Costa Rica and published every Wednesday.

Costa Rica's Central Bank Rises Basic Rate to 7.25%

December 2010

Starting tomorrow, December 2nd, the passive basic rate will raise 25 basis points.

According to an announcement by the Central Bank of Costa Rica, the rate will rise to 7.25% from the current 7%.

"With this move, the indicator recovered a little of what had lost a week ago, on November 25th, when it fell 75 points in a single setting," Elfinancierocr.com writes.

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

August 2010

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

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.

Costa Rica bank rate jumps 1%

July 2008

Costa Rica's Central Bank raised its prime lending rate, or monetary rate, Thursday from eight percent to nine percent.

The bank's management committee also raised the gross rate for overnight deposits from 4.25 percent to 5.25 percent.
The monetary rate is used by the Central Bank to influence the market. It is the main tool for executing monetary policy.

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