Costa Rica: Basic Rate Up to 8%

The basic passive rate recorded its first increase of the year to stand at 8%.

Thursday, January 13, 2011

This increase puts the rate at the level reported in early January.

"The basic passive rate is a weighted average interest charged by savings banks, the Central Bank and the Ministry of Finance for terms between five and seven months. The Central Bank calculates the rate every Wednesday," wrote Nacion.com.

More on this topic

Costa Rica: Basic Rate Increases to 10.5%

August 2012

The indicator is at its highest value so far 2012 (10.5%).

"The increase occurred despite the fact that on 23 August, the Legislature passed a law, on its second debate, to raise funds for Costa Rica using foreign debt (Eurobonds). This was expected to reduce local interest rates", writes Sergio Morales for Financierocr.om

Basic Rate in Costa Rica up to 7.5%

March 2011

The rise of a quarter percentage point locates the indicator at 7.5%.

With this increase, the Basic Passive Rate calculated by the Central Bank of Costa Rica is now located at the same level from two weeks ago.

"This week´s upward movement also affects monthly loan payments for those who have taken credits indexed to this rate," reported Gabriela Mayorga in her article at Elfinanciercr.com.

Basic Rate Increases 25 Points in Costa Rica

April 2010

The basic passive rate increased 25 basis points and now stands at 8.25%.

For the past four months, the rate has hovered between 8% and 8.5%. Since the start of the year, we have maintained our forecast that it would remain between 8% and 10% for the first six months of the year.

Basic Rate Drops to 8% in Costa Rica

February 2010

The Basic Passive Rate dropped a quarter of a percentage point, and is now at 8%.

8% has been the average value for the rate so far 2010.

Elfinancierocr.com reports: “Eight days ago the rate climbed 0.25 points, influenced mostly by the rounding mechanism used in its calculation”.

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