Costa Rica: Basic Rate Down to 7.50%

Starting Thursday, September 30, the Passive Basic Rate (TBP) will stand at 7.50%.

Wednesday, September 29, 2010

El Financiero, on its website explains "the TBP is a weighted average interest rate of gross uptake in Colones, negotiated by financial brokers operting in the country as well as by Central Bank and the Ministry of Finance.”

This places the rate at its lowest in recent years.

More on this topic

Costa Rica: Basic Rate Down to 7.50%

January 2011

With half a percentage point lower the Passive Basic Rate stands now at 7.50%

Calculated by the Central Bank of Costa Rica, the base rate had been at 8% during the week between Jan. 13 and 19.

"Influencing this week´s cut were rate reductions made the Central Bank, the Ministry of Finance and public banks," states La Nacion´s website.

Basic Rate Rises to 7.75% in Costa Rica

November 2010

The basic passive rate rose this Thursday from 7.50% to 7.75%.

Since late last month, the indicator has shown an upward trend.

"The last time it was at 7.75% TBP was in September and earlier in May", reported "Despite the increase, it has not yet reached its highest level of 2010, which was 8.50%",

Costa Rica: Basic Rate down to 6.75%

October 2010

The passive low base rate falls for the second consecutive week, from 7.50% to 6.75%.

Two weeks ago it temporarily located at 8.25%, showing the vulnerability of the indicator and transient conditions of liquidity as well as sector-specific needs, with the aggravation that this rate is used as the main reference for credit grants, so it has direct effect on financial planning for many businesses and families.

Costa Rica: Basic Passive Rate Drops to 7,5%

September 2010

This is the lowest value in the past two years.

Last time Basic Passive Rate reached this level was in August, 14th, 2008.

Last week the Central Bank, Treasury Ministry, state-owned and private banks reduced their interest rates, reported the Central Bank. "Nevertheless, state owned banks had the strongest influence in this reduction, as they lowered their interest rates the most".

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