Basic Rate in Costa Rica up to 7.75%

With an increase of a quarter of a percentage point, the Basic Passive Rate is at 7.75%.

Thursday, January 27, 2011

The basic passive rate is calculated each Wednesday by the Central Bank of Costa Rica.

"According to measurements by the Center for Research in Economics at the University of Costa Rica, this year the TBP will hover between 8% and 9%," stated Leticia Vindas in her article on El Financiero.

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 Drops to 7.75% in Costa Rica

April 2010

This is the lowest figure in 20 months; it had not been recorded since August 27th, 2008.

The rate had hovered between 8% and 8.5% since December 2009.

“This week’s reduction was specially affected by lower rates offered by State Banks, the Treasury and the Central Bank”, reported Nacion.com. "The average rate for state banks dropped from 7.97% in April 14 to 7.33% in April 21".

Basic Rate Climbs to 11.75% in Costa Rica

September 2009

It raised 0.25 percentage points, its first increase since August 6th.

The basic passive rate is an average of savings interest rates in colones for deposits between 150 and 210 days. It is calculated by the Central Bank.

"Interest rates paid by financial entities saw minor changes in both directions (increases an decreases) this week", reported Pablo Villalobos, from the Central Bank.

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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