Costa Rica: Passive Base Rate Drops to 5.70%

The main bank reference rate has dropped from 5.75% to 5.70%, where it will remain until at least Wednesday March 2.

Thursday, February 25, 2016

Al June 15th, 2016  

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The passive base rate went down again, adjusting to the new calculation methodology implemented by the Central Bank in early February. The reduction is from 5.75% to 5.70% where it will remain this Thursday February 25 until at least March 2.

Since October 2015 this is the eighth consecutive time the benchmark rate has dropped, and the third time so far in 2016.



More on this topic

Monetary Policy Rate Decreases: Have They Worked?

March 2020

For the Central Bank of Costa Rica, the constant reductions in the Monetary Policy Rate that have taken place since March 2019 have been gradually and incompletely transferred to the interest rates of the financial system.

At the end of January this year was the last reduction of the monetary policy rate, in this case from 2.75% to 2.25%. For this occasion, the Central Bank argued that the drop was made because by 2020 and 2021 inflation is expected to remain within the target range.

Costa Rica: Monetary Policy Rate Falls to 4.75%

May 2019

Arguing that the rise in international commodity prices and the redefinition of the basic tax basket could put upward pressure on inflation, the Central Bank reduced the Monetary Policy Rate to 4.75%.

This is the second reduction made by the Central Bank of Costa Rica (BCCR) so far this year, since at the end of March it decided to reduce the monetary policy rate from 5.25% to 5%.

Costa Rica: Passive Base Rate Drops to 5.55%

March 2016

The main bank reference rate has dropped from 5.65% to 5.55%, where it will remain until at least Wednesday March 23.

The passive base rate went down again, adjusting to the new calculation methodology implemented by the Central Bank in early February. The reduction is from 5.65% to 5.55% where it will remain from Thursday 17 March until at least 23rd of March.

Costa Rica: Basic Interest Rate Rises to 7.5%

August 2011

The basic passive rate rose 0.25 percentage points to 7.5%.

The rate is calculated by the Central Bank, which takes into account the borrowing rates paid on Central Bank securities, the treasury and financial institutions for loan terms of between 150 and 210 days.

The indicator was 7% two weeks ago, then rose to 7.25% where it remained for 7days after going back up another 0.25 percentage points.

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