Basic rate in Costa Rica increases to 11.50%

As of today, the basic passive rate will go up by 0.50 points to 11.50%, its highest since November 2006.

Thursday, December 4, 2008

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

The Central Bank uses this rate as a reference to control monetary policy and the commercial banks use it as a reference for loans.

More on this topic

Costa Rica lowers basic interest rate to 11%

November 2008

The basic passive rate has remained close to 11% for almost a month with slight variations in either directions.

Starting today it will be lowered from 11.25% to 11%.

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

Basic rate goes up to 11% in Costa Rica

October 2008

The passive basic rate goes up, starting today, by one percentage point, from 10% to 11%, the Central Bank reported today.

The passive basic rate is an average of the interest rates for savings in colones for terms between 150 days (5 months) and 210 days (7 months). With yesterday's increase, there have now been 13 increases since last May, which were interrupted last week with a drop of 0.25 points (10%).

Basic interest rate lowered to 10% in Costa Rica

October 2008

After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

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