Central Bank of Costa Rica raises monetary policy rate

This instrument, which the authorities use to send signals to the market, was increased from 9% to 10%.

Friday, August 8, 2008

"The measure was adopted taking into consideration that the Central Bank will continue with a restrictive monetary policy to reduce the rhythm of growth of prices in the local market and to contribute toward achieving the desired inflation," said the bank in a statement.

More on this topic

Leader Rate in Guatemala Reduced to 5%

June 2012

The Monetary Board believes that there are now conditions, limited and temporary, to reduce the monetary policy leading interest rate.

A statement from the Bank of Guatemala reads:


The Monetary Board, at its meeting today decided to reduce the level of the leading interest rate for monetary policy by 50 base points from 5.50% to 5.00%, based on comprehensive analysis of the foreign and domestic situation, after reviewing the Inflation Risks Balance, and the results of the mechanical shift of semi-structural Macroeconomic Model for June and orientation of the indicative variables of monetary policy.

Costa Rica's Reduces its Interest Rate Objective to 7.5%

August 2010

The Costa Rican Central Bank (BCCR) has cut its monetary policy managed rate (TPM in Spanish) by 0.5%.

BCCR believes that medium term inflationary pressures have subdued, taking into account underlying variation in prices. In addition, greater exchange rate flexibility has created favorable conditions enabling it to manage monetary policy more effectively," reports Nacion.com.

Costa Rica bank rate jumps 1%

July 2008

Costa Rica's Central Bank raised its prime lending rate, or monetary rate, Thursday from eight percent to nine percent.

The bank's management committee also raised the gross rate for overnight deposits from 4.25 percent to 5.25 percent.
The monetary rate is used by the Central Bank to influence the market. It is the main tool for executing monetary policy.

Costa Rica's central bank raises colon interest rates

May 2008

Costa Rica's central bank raised its monetary policy interest rate from 3.25 percent to 4.25 percent, the elfinancierocr.com website reported.

The increase gives a clear signal on how colon interest rates are likely to move in the coming weeks, the website said.

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