Basic Rate Drops to 9.25% in Costa Rica

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

Thursday, December 10, 2009

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.

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More on this topic

Costa Rica's Base Rate Drops to 6.70%

May 2013

The Central Bank of Costa Rica reported that as of May 9 the passive base rate will be set at 6.70%, down 0.05% from the previous week.

"With this reduction, the basic passive rate (TBP) reaches its lowest level since February 2008. At the beginning of this 2013, the indicator was at 9.20%, so it has lost 2.5% in just four months. A year ago, the TBP was by 10%," noted an article in Elfinancierocr.com.

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 Climbs to 9.25% in Costa Rica

November 2009

The Central Bank of Costa Rica reported that the Basic Passive Rate (TBP) will stand at 9.25% until further notice.

This is the second consecutive increase of this rate, as last week it moved from 8.75% to 9%.

"TBP is a reference indicator for setting loan and saving rates in colones", reported 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%".

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