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Costa Rica: Passive Base Rate Rises to 10.25%

After remaining between 9.5% and 10% over the past 45 days, the Passive Base Rate has resumed its upward path, reaching its highest level this year.

Thursday, July 26, 2012

With this increase the rate reaches a level not attained since October 2009.

The passive base rate is calculated by the Central Bank and is the weighted average interest rate for savings in colones for periods ranging from 150 days (5 months) and 210 days (7 months).

"Although state banks are the ones that have put increased pressure on the rate, this week all entities have show an increase in their savings rates", reported Nacion.com

Source: Nacion.com