Basic Rate Drops to 11.5% in Costa Rica

The drop of 0.5 percentage points is the third consecutive since mid July, when the rate stood at 12.75%.

Thursday, August 6, 2009

"These variations are important because they tell investors what was the average return on their savings, as well as telling debtors how much they will pay, as most loans are tied to the performance of this rate", reported Elfinancierocr.com.



Market Intelligence

Everything about exports and imports in Costa Rica.

Top companies - Quantities, amounts and prices.

more info

More on this topic

Basic Rate Drops to 8% in Costa Rica

January 2010

After dropping a quarter of a percentage point, the rate now stands at 8%, its lowest level since August 2008.

The Basic Passive Rate is calculated each Wednesday by the Central Bank of Costa Rica.

"The basic rate is a weighted average of interest rates paid by financial entities, Central Bank and the Treasury, for maturities between 5 and 7 months, and is also used as a reference for loans", reported Nacion.com.

Basic Rate Drops to 9.25% in Costa Rica

December 2009

The Basic Passive Rate (TBP) dropped a quarter of a percentage point and now stands at 9.25%.

It is now at the same level as two weeks ago, when it also reached 9.25%.

"Tha Basic Passive Rate is a weighted average of savings interest rates in colones paid by banks, Central Bank and the Treasury, with maturities between 150 and 210 days", explains Prensalibre.cr.

Costa Rica: Basic Rate Drops to 12%

July 2009

After a 0.25% reduction, the Basic Rate stands now at 12%.

"It is the second consecutive week of reduction for this indicator, reversing the raising trend it showed from June onwards", reported Elfinancierocr.com. "A couple of days ago some financial institutions raised their savings rates in colones, pushing the basic rate up to 12.75%".

Basic Rate Climbs to 12% in Costa Rica

July 2009

The reference rate for setting interest rates in savings and loans increased by 75 basis points.

With this increase, investors receive better returns and debtors will have to pay more for their loans.

A La Prensa Libre article quotes comments of Pablo Villalobos, monetary and financial statistics head at the Costa Rica Central Bank: "...

 close (x)

Receive more news about Central Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Capitales.com

Organization that operates in Costa Rica, El Salvador, Nicaragua and Panama.
Phone: (506) 2280 5130

Company Profile

Government Procurement
Opportunities in the region
--

bid deadline

Dec 13
Dec 13
Dec 13
Dec 13
Dec 13
Dec 13

Stock Indexes

(Dec 13)
Dow Jones
0.33%
S&P 500
-0.05%
Nasdaq
0.20%

Commodities

(Dec 14)
Brent Crude Oil
61.58
Coffee "C"
120.55
Gold
1,257
Silver
16.015