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

"The Treasury has argued that the placement of international bonds will eventually reduce upward pressure on domestic interest rates. The reason is that it would lower the Government’s need to raise money, since with the money received it can pay other external and internal debts", reported Elfinancierocr.com

Source: elfinancierocr.com

More on this topic

Costa Rica: Passive Base Rate Rises to 10.25%

July 2012

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.

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).

Costa Rica: Basic Rate Goes Up to 12.25%

March 2009

The increase in the passive base rate, valid beggining today, is of 0.25%.

The person in charge of monetary and financial statistics for the Central Bank of Costa Rica, Pablo Villalobos, told la Nacion "that this week’s increase in the base rate was due to some brokers raising their rates and others lowering them, but increases weighed a little more on the average.”

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.

Costa Rica lowers basic interest rate to 11%

November 2008

The basic passive rate has remained close to 11% for almost a month with slight variations in either directions.

Starting today it will be lowered from 11.25% to 11%.

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