Central Bank of Costa Rica increases basic rate to 8.50%

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%

Thursday, August 28, 2008

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.
The increase will benefit savers, although it will not cover actual or projected inflation.

More on this topic

Basic Rate in Costa Rica up to 7.75%

January 2011

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

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.

Basic interest rate raised to 9.25% in Costa Rica

September 2008

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%.

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).

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%.

Costa Rica central bank hikes base interest rate by 0.75 points

July 2008

Costa Rica's central bank announced an increase of 0.75 percentage points in the base lending rate (TBP).

The rate now stands at 6.50 percent, up from 5.75 percent on July 9, and a record low of 4.25 percent four months ago.
So far this year, the rate has been increased four times. The latest increase follows a decision by a majority of financial intermediaries to raise their interest rates for savings in colons.

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