Basic Rate in Costa Rica Down to 7.5%

The basic passive rate dropped a quarter of a percentage point to settle at 7.5%.

Thursday, February 3, 2011

During the current year the highest percentage has been 8%, and the lowest 7.25%.

"The current drop was forced by the average rate of state-owned commercial banks, since it is the component which weights the most in the balance", wrote Sergio Morales Chavarria in his article for Elfinancierocr.com.

More on this topic

Basic Interest Rate Reaches 8.5% in Costa Rica

January 2012

From today the basic passive rate (TBP in Spanish) rose half a percentage point to settle at 8.5%, a level not seen since May 2010.

"The increase was caused by higher deposit rates at state-owned banks, which are the entities that carry the most weight in the definition of the TBP.

Basic Rate down to 7.25% in Costa Rica

March 2011

After spending a month at 7.5%, the Basic Passive Rate went down a quarter of a percentage point.

The new value is the lowest in 2011; the highest has been 8%.

"The basic passive rate is the combination of the gross interest rates paid by banks and government to savings accounts.

Costa Rica: Basic Rate Starts Year at 7.25%

January 2011

The basic passive rate started the year with a decline of 0.75 points to settle at 7.25%.

The indicator calculated by the Central Bank of Costa Rica is located at the same value it had in early December 2010.

"The estimated percentage is lower than that reported by the indicator exactly one year ago, when at the time was at 8.25%, it then dropped to 8% which was maintained until mid-February 2010,"writes Elfinancierocr.com.

Basic interest rate lowered to 10% in Costa Rica

November 2008

The basic passive rate dropped half a point to 10% between today and November 11, the Central Bank reported.

Week before last, the percentage had dropped from 11% to 10.75% and last week it went from 10.75% to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms between 150 days (5 months) and 210 days (7 months) calculated by the Central Bank.

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