Costa Rica: Passive Base Rate Drops to 6.55%

The Central Bank reports that, as of this November 14 and at least until 20 the TBP will drop from 6.60% to 6.55%.  

Wednesday, November 13, 2013

Elfinancierocr.com reports: "The rate has been fluctuating between this percentage (6.60%) and the one reached on Wednesday (6.55%), since 12 October this year."

"The Base Rate is used as a guide for most loans in colones granted by financial institutions and is calculated based on the weighted performance of the rates of private and public banks and other financial intermediaries."



More on this topic

Costa Rica: Passive Base Rate down to 6.50%

January 2014

The benchmark interest rate for loans and investments will remain at 6.50% until at least January 22nd.

Last week the Passive Base Rate(TBP by its initials in Spanish) was at 6.55% this week and had a 0.05% decrease.

According to the Central Bank of Costa Rica this is "... the lowest level for the rate during 2013 and one reached for the first time on September 5."

Costa Rica: Passive Base Rate Drops to 6.55%

November 2013

From November 28 until December 4 the base rate will go from 6.60% to 6.55%.

Elfinancierocr.com reported that "it was on 25 July when the rate reached its present level (6.55%) for the first time so far this year. Since then, the rate has remained fluctuating between 6.60% and 6.50%. "

Costa Rica: TBP Drops to 6.65%

May 2013

The Central Bank of Costa Rica has reported that as of May 30, the base rate will drop 0.5% after remaining for three consecutive weeks at 6.70%.

This is the lowest percentage achieved in the last four and a half years, in which the lowest rate was 6.75%.

"The reduction was due in part to a decrease in average deposit rates at public commercial banks, which went from 6.11% to 6.08% and these entities have the most weight in this calculation", reported Elfinancierocr.com.

Base Rate drops to 8.3% in Costa Rica

January 2013

Starting tomorrow, Thursday, January 31, the passive base rate will fall to 8.3%, after 7 days at 8.6%.

The passive base rate (PBR) is an average of the deposit rates of banks and financial institutions on maturities of between 150-210 days.

It is an important indicator for the Costa Rican economy, as there is a significant amount of lending tied to this rate.

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