Costa Rica: Passive Base Rate down to 6.50%

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

Thursday, January 16, 2014

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."

"A year ago, the TBP had a level of 8.90%."



More on this topic

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.

Costa Rica: Base Rate Remains at 6.95%

April 2013

From the 4th and at until April 10th, the passive base rate will remain at 6.95%, after more than three months of continuous decline.

"... The trend has been downward since October, when it began to decline after reaching the highest point in the last three years of 11%," reported Elfinancierocr.com.

Costa Rica: Passive Base Rate Drops to 7.35%

February 2013

Four months after being at 11%, the base rate, an indicator of great importance for Costa Ricans, is declining.

From the Blog Pulso Bursátil by Aldesa:

Four months after being at 11%, the base rate, an indicator of great importance for Costa Ricans, continues to fall and is currently at 7.35%.

Costa Rica: Base Rate Drops to 7.80%

February 2013

Starting tomorrow the base borrowing rate of the Central Bank of Costa Rica, will be at 7.80%, the lowest level in more than two years.

Nacion.com reports that "This figure is a quarter percentage point below the level of last week, when the indicator was 8.05%."

This week’s calculation was influenced by decreases in the savings rates of commercial banks (public and private) and mutual savings and loans.

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