Base Rate Increases to 9.75% in Costa Rica

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

Thursday, June 28, 2012

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.

Banks tend to link the level of interest charged on loans to the passive base rate, so that any adjustment affects credit quotas", published Elfinancierocr.com



More on this topic

Costa Rica: Base Rate Goes From 10.50% to 10.25%

September 2012

Is a reduction in the base rate (BPR) sustainable?

From an article by Aldesa:

The passive rate base fell from 10.5% to 10.25% as a result of its weekly calculation.

Dis aggregating the components of the weekly calculation that determines the level of the base rate, there was a decrease of 51 base points (0.51%) in interest rates paid by public banks for deposits in colones on terms of between 150 and 210 days .

Base Rate in Costa Rica Hits Highest Point this Year

July 2012

The Passive Base Rate has increased by 50 base points and now stands at a level of 10%.

The indicator has again hit the highest value reached in 2012, having been at the same value between 10 and 22 May 2012 and between May 31 and June 13, 2012.

The passive base rate is calculated by the Central Bank and is a weighted average interest rates of savings in colones for periods ranging from 150 days (5 months) and 210 days (7 months).

Costa Rica: Base Rate Drops to 9.75%

May 2012

Following a slight reduction in interest rates in the banking system, the central bank has adjusted the value of the Passive Base Rate from 10% to 9.75%.

From a statement by Aldesa:

The base rate went down from 10%, the level it has been at for the last two weeks, to settle at 9.75%.

Costa Rica: Basic Rate Rises to 9.75%

May 2012

Continuing the upward trend in recent months, the Passive Basic Rate (PBR) has reached values not seen since late 2009.

From Thursday 3rd May the PBR to will go up to 9.75%, reaching a level similar to the end of 2009.

"From the first week of January until the 1st of May, the simple average of the PBR was 9.04%, if you compare that to the corresponding period of 2011 the average was 7.42%", reported Elfinancierocr.com.