Basic Passive Rate Reaches 2015 Levels

Because savers in Costa Rica have moved their resources to longer terms, to avoid an increase in income tax, the Basic Passive Rate rose to 6.65%, a level not recorded since August 2015.

Thursday, July 4, 2019

According to data published by the Central Bank of Costa Rica on Wednesday afternoon, July 3, the Basic Passive Rate (BPR) reports levels not reached since August 26, 2015, and will remain at 6.65% until next July 10.

The basic passive rate is an average of the collection rates in colones of financial institutions with terms of 150 to 210 days.

See "Basic Passive Rate Keeps Going Up

Gustavo Vargas, CEO of Banco Nacional, explained to Nacion.com that "... investors were renewing three-year, rather than six-month term certificates of deposit, causing the weighted average BPR to increase."

Douglas Soto, general manager of the Banco de Costa Rica (BCR), explained that "... this behavior is temporary, and therefore, the BPR will decrease soon."

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More on this topic

Basic Passive Rate Goes Down to 5.9%

July 2019

The Basic Passive Rate decreased from 6% to 5.9%, while the Effective Rate in Dollars also decreased, from 2.71% to 2.64%.

After the PBS increased to 6.65%, a level not seen since August 2015, this is the second week in which declines are reported. This behavior was predicted by Douglas Soto, general manager of the Bank of Costa Rica (BCR), who weeks ago explained that the increase that was reported at that time was a "... cyclical behavior, and therefore, PBS will decrease soon."

Strong Decrease in Basic Passive Rate

July 2019

After last week in Costa Rica the rate rose to 6.65%, a level that had not been recorded since August 2015, on July 10 abruptly decreased to 6%.

Data published by the Central Bank of Costa Rica on Wednesday afternoon, July 10, show that the Basic Passive Rate (PBS) decreased by 0.65%, and will remain at 6% until next July 17.

Basic Passive Rate Keeps Going Up

June 2019

In Costa Rica, the Basic Passive Rate increased to 6.55%, a level that had not been recorded for four years, while the Effective Rate in Dollars also increased, in this case to 3.14%.

According to data published by the Central Bank of Costa Rica on Wednesday afternoon, June 26, the Basic Passive Rate reports levels that did not reach since last September 30, 2015 and will remain at 6.55% until next July 3.

Costa Rica: Interest Rates up to August 10

August 2016

The passive base rate in colones has fallen to 5%, while the effective rate in dollars fell to 2.01%, where it will remain until August 17.

The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on August 10 news that passive base rate will stand at at 5.00% until Wednesday August 17. The rate has not fallen to this level since May 2008.

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