Starting tomorrow, Thursday September 27, the passive base rate will increase by 25 base points and will be stand at 10.50%.
Wednesday, September 26, 2012
The passive base rate will increase from 10.25% to 10.50% as a result of its weekly re-calculation.
The PBR is a weighted average calculated weekly by the Central Bank of Costa Rica from the uptake rates of entities in the country’s financial system for fixed periods that are between 150 and 210 days.
Investment securities and loans are tied to this indicator which represents the variable component in these operations.
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The Central Bank has reported that starting from September 5 the PBR will be lowered by 0.05% going from 6.55% to 6.50%.
The passive base rate (PBR) has remained at 6.55% for four consecutive weeks. After this update made by state entity the PBR will remain at 6.50% until September 11th.
After spending a week at 10.75%, the Central Bank set the passive base rate at 10.25%.
Elfinancierocr.com reports that the passive base rate (TBP in Spanish) "has been floating or above 10% for three months now. On July 19 it went from 9.5% to 10%."
The TBP is a weighted average calculated weekly by the Central Bank of Costa Rica on the savings rates of entities in the financial system of the country for fixed periods that are between 150 and 210 days.
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 .