The Central Bank intends to use the interest rate as its main instrument for monetary policy.
The bands are set by the Monetary Policy Rate (MPR) as the ceiling and the overnight Direct rate as a floor.
Gabriela Mayorga of Elfinancierocr.com reports, “The Central Bank Board decided to locate the level of the MPR at 6.50% per annum according to Article 8 of the minutes of session 5475-2010 - October 20th.”
The difference in the interest paid by banks on deposits and loans can be as much as 22%.
Intermediation margins are a measure how a financial sector performs its mediation role and is one indicator of efficiency. Though there are various ways to calculate the figure, Costa Rica's margin is higher than in other economies.
International financial entities will increase the amount of finance available for private businesses and projects in Latin America
The International Finance Corporation (IFC), the World Bank, the Inter-American Development Bank (IDB) and the American Investment Corporation (IIC) have announced their willingness to increase resources for the financing of "eco-friendly projects, infrastructure, agribusiness and even educational projects," developed by private enterprise.
Costa Rican businessmen see in the political setback suffered by the Chinchilla administration, an opportunity to make progress in the legislative agenda.
For the first time in 41 years, the incumbent government is losing the leadership of the Legislature, creating a serious obstacle in the development of the legislative agenda under the administration headed by President Laura Chinchilla.