Basic interest rate raised to 9.25% in Costa Rica

The basic passive rate, which is an average of the savings interest rates, will go up today by 0.5 percentage points, from 8.75% to 9.25%.

Thursday, September 25, 2008

This increase will make it a full 5 percentage point increase since last May, when it was at a historic low of 4.25%.
The basic passive rate is an average of the savings interest rates in colones for terms between 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

More on this topic

Base Rate in Costa Rica Maintained at 6.70%

May 2013

From 16 and to at least 23 of May, the passive base rate in Costa Rica will remain at 6.70%.

The Central Bank of Costa Rica reported that the passive base rate will remain at 6.70%, the same percentage as the previous week.

"This is the third pause that the indicator has made since its downward trend began in late December, as most of the weeks it has dropped, with the smallest amount being 0.05 percentage points ...", reported

Basic interest rate increases to 8.75% in Costa Rica

September 2008

Negotiations carried out this week with titles from the BCCR (Central Bank) and the Government in the secondary market were part of the effect that cause the increase in the basic passive interest rate which comes into effect today.

The basic passive interest rate, an average of the interest rates for savings colones for periods between 150 days (5 months) and 210 days (7 months), goes up starting this Thursday from 8.50% to 8.75%.

Central Bank of Costa Rica increases basic rate to 8.50%

August 2008

The passive basic rate (an average of the interest rates for savings in colones at terms of 150 to 210 days) goes up starting today, from 7.75% to 8.50%

This is the ninth increase so far this year and the third at 0.75 points. At the current value, the basic rate is at the highest recorded during this year.

Basic fee passive low 0.75; affects savings and loans

February 2008

The basic fee passive (TBP) fell by 0.75 percentage points, going from 7.25% to 6.50%, the Central Bank reported yesterday.

The cut is a disincentive for ahorrantes in colones, because the actual return they receive on their savings is negative, does not compensate for the loss of value of the colon by inflation (10.56%, January).

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