Costa Rica central bank hikes base interest rate by 0.75 points

Costa Rica's central bank announced an increase of 0.75 percentage points in the base lending rate (TBP).

Thursday, July 17, 2008

The rate now stands at 6.50 percent, up from 5.75 percent on July 9, and a record low of 4.25 percent four months ago.
So far this year, the rate has been increased four times. The latest increase follows a decision by a majority of financial intermediaries to raise their interest rates for savings in colons.

More on this topic

Basic Rate in Costa Rica up to 7.75%

January 2011

With an increase of a quarter of a percentage point, the Basic Passive Rate is at 7.75%.

The basic passive rate is calculated each Wednesday by the Central Bank of Costa Rica.

"According to measurements by the Center for Research in Economics at the University of Costa Rica, this year the TBP will hover between 8% and 9%," stated Leticia Vindas in her article on El Financiero.

Costa Rica's Basic Rate Now at 12.25%

July 2009

Starting tomorrow, the Basic Passive Rate, also known as TBP, will be 12.25%.

The Basic Passive rates has registered successive increases in June, the highest of them 0.75 percentage points.

"This reduction however, comes as a surprise, as in the last weeks there were contradictory signals on the direction it could take", noted Edgard Delgado in an article in El Financiero's website.

Costa Rica: Base Rate Decreases to 11.75%

March 2009

This decline of 0.50 percentage points is the fourth non-consecutive reduction of the indicator so far this year.

El Financiero published on its website: "The TBP (Basic Passive Rate) is an average interest rate on money collection among financial institutions, the Ministry of Finance and the Central Bank in time periods between 150 and 210 days.

Costa Rica's prime rate rises to 5.75%

July 2008

Effective today, the basic bond interest rate (TBP) in Costa Rica will rise 25 basis points to 5.75 percent, according to the nation's Central Bank.

The TBP appears to be in an uptrend after falling to a cyclical low of 4.25 percent on April 16, after touching 7.25 percent in january. Since April both public and private banks have been increasing their lending rates.

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