Basic rate increases 0.25% in Costa Rica

The basic passive rate goes up by a quarter percentage point starting today, going from 11.50% to 11.75%, according to the Central Bank.

Thursday, December 18, 2008

With yesterday's increase, the rate will be triple what it was in May and returns to the level that was recorded at the start of the year.

Despite the increase in the rate, it is still slightly below the inflation expected for the next 12 months.

More on this topic

Costa Rica: Monetary Policy Rate Rises to 5%

February 2018

Claiming that in the last few months inflation expectations have increased, the Central Bank has raised the monetary policy rate from 4.75% to 5%, from February 1st.

The Central Bank argues that the price of oil has maintained a bullish behavior since July 2017. This situation, with a backlog, is transferring to the local price of fuels, with a potential transmission in the coming months towards other prices.

Costa Rica: Monetary Policy Rate Drops to 2.25%

October 2015

For the seventh time this year the Central Bank has lowered the monetary policy rate from 3% to 2.25%, and projected that inflation at the end of the year will be close to 0%.

The Board of the Central Bank of Costa Rica also decided to set the gross interest rate for overnight deposits (DON) at 0.95% as of October 21.

Basic rate in Costa Rica at 11.75%

January 2009

Starting today and until January 14, the indicator will be at 11.75%, according to the Central Bank. reports, "According to the survey on economic perspectives published this week by the EF, most of the economists that were consulted believe that the indicator could reach 12% this year.

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.

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