Costa Rica: Passive Base Rate Rises to 6.5%

The benchmark interest rate for loans and investments in the country has moved up to 6.5% and will stay at that level until at least the 19th of March.

Wednesday, March 12, 2014

The Central Bank of Costa Rica announced that as of Thursday, March 13th and until at least the 19th of the month, the passive base rate will be located at 6.50%.

The benchmark interest rate for loans and investments will rise 0.05%, as last week it stood at 6.45%, the lowest level since July 2008.



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: 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: 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.

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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