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



More on this topic

Basic Interest Rate Reaches 8.5% in Costa Rica

January 2012

From today the basic passive rate (TBP in Spanish) rose half a percentage point to settle at 8.5%, a level not seen since May 2010.

"The increase was caused by higher deposit rates at state-owned banks, which are the entities that carry the most weight in the definition of the TBP.

Costa Rica: Basic Rate at 11.5%

January 2009

The half point drop effective from today, is the first for the year after two consecutive increases.

Elfinanciero.com reports: "The Basic Passive Rate is an average of the rates paid for investments by financial entities, the Ministry of Housing, and the Central Bank for terms of 150 and 210 days.

Basic rate in Costa Rica increases to 11.50%

December 2008

As of today, the basic passive rate will go up by 0.50 points to 11.50%, its highest since November 2006.

The basic passive rate is an average of the rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months) and is calculated by the Central Bank.

Basic rate goes up to 11% in Costa Rica

October 2008

The passive basic rate goes up, starting today, by one percentage point, from 10% to 11%, the Central Bank reported today.

The passive basic rate is an average of the interest rates for savings in colones for terms between 150 days (5 months) and 210 days (7 months). With yesterday's increase, there have now been 13 increases since last May, which were interrupted last week with a drop of 0.25 points (10%).

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